I can't believe that Fannie Mae, operating under government conservator-ship, is telling short sale sellers to go into default. The U.S. Department of Treasury is giving Fannie Mae up to $200 billion dollars to bail it out. Yet, what we have here is the government telling short sale sellers to stop making their mortgage payments.Fannie Mae is now rejecting short sales for sellers who are current on their payments. Flat out rejecting them. Which means sellers who hope to get short sale approval from Fannie Mae must stop making their mortgage payments. This sounds so bizarre to me. But it's happening … (26 comments)
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