Well, today began another day of an outlandish counter from Fannie Mae on another short sale. This now will be my 3rd in the last 2 months that I have fought til the death and Fannie basically said they will not let seller sell for a "fair market value price". I wish instead they would just deny the short sale and save us all the time. One I put back on the market at the price they were requesting and lowered until I received a offer that even a friend appraiser told me he would appraise the property at. Fannie came back and said no. I even went around the servicer and disputed it with Fannie and still they asked for a price that was 26k over fair market value.
My one now is with Greentree who have not had the best reviews but again Fannie Mae has come back and not only asked for 39k over fair market value but also 36k contribution from seller. The crazy thing is right now it is just better for them to foreclose. And, guess what folks it seems to me that is EXACTLY want Fannie Mae wants to happen. The attorney that I work with said that in the last 3 weeks he has had and heard more people tell him almost the exact same story.
I truly believe that 4th quarter and 1st quarter are going to be a wild ride. I'm on my way to Target right now to purchase a new tool for listing appointments. It's one of those 8 balls that you shake and ask a question to, then turn upside down so the answer can be revealed. Hard work and persistant follow up just does not seem to cut the cookie when you are dealing with a saboteur on the other end.
Frustrated for my clients.
Lori
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I'm going thought the same thing with Green Tree and Fannie Mae.
The Negotiator said they won’t accept a CMA and want an appraisal for a dispute, but even with that will Fannie Mae sell for the value of the appraisal? Why would I have the seller pay for an appraisal if Fannie Mae will not honor it?