Over the last few months, it has become apparent that Fannie Mae is more interested in foreclosing than approving short sales. The scenario is the same over and over again. The BPO comes in at one price and Fannie Mae adds 20 or 30% and says that is what they will accept. Some have suggested that they are trying to get next year's prices if the current price trends continue. In the meantime, buyers are unwilling to overpay by that much and are backing out of the contracts when they hear the outrageous prices that FM is asking. If you dispute the value, they reject it and then consider their number good for an additional 90 days from the decision on the dispute. Has anyone else been experiencing the same kind of problem with Fannie Mae being the investor??
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