Has anyone had problems w/Fannie Mae ridiculous counters? Submitted a ss for $180,000 (no concessions) LP was $185,000. Fannie Mae came back with a counter of $250,000. The LMS at Servicelink told me the independent BPO came back at $180,000. I am hearing that Fannie/Freddie don't want to accept short sales and would rather go to foreclosure as they get more money?
I have challenged the counter and still waiting to hear any advise?
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Cate, you may want to escalate this one, especially knowing that the BPO is 180,000. Go to Fannie and press the issue. I really dont believe that they get more money in foreclosure, maybe if they were the servicer but not the investor.... I have closed plenty of Freddie Fannie short sales and have challenged them many times.
Some MLS services have Fannie help desk, try there first, if that does not work, go to www.jigsaw.com and email your case to every Fannie exec that you can find.