Freddie Mac you broke my heart.  You teased me with your beautiful little condo nestled on the wooded hillside by the lake.  Two ample bedrooms and two sparkling baths complete with tile floors and sleek tile tub surrounds.  Your spacious south facing living room took full advantage of the fleeting Seattle sun.  But you, unresponsive, communication challenged and unable to commit.  My intentions were clear from the very start, I wanted your condo to be my own to have and to hold in sickness and health to sale do we part, but it seems it was just not to be.  Perhaps you have been wounded by other less serious suitors but 30 days is way too long to expect me to wait.  Terms agreed to orally but no written response.  As beautiful and seductive as your condo is I have left you for another. 

Three days from offer to inspection and now ready to close.  My new condo is beautiful and fully committed, closer to the city center and in way better shape. You my old flame, I wish all the best.  Perhaps we can still be friends but more likely I think not.  Freddie Mac, until you clean up your act and deal with your skeletons you are destined to keep your own condo company.

Thoughts from a buyer after waiting 30 days for a signed agreement from Freddie Mac that never materialized.

This blog was written by Brian Leavitt, a Licensed Real Estate Broker and Licensed Mortgage Broker representing Northstone Real Estate Inc, and Northstone Mortgage.

Brian serves clients within the Northwest Multiple Listing Service.

You can contact Brian directly by phone at 800-806-3145 or by email at brian@northstone.net.  Click here to view his client newsletter.

Brian is licensed with the Washington State Department of Licensing and the Washington State Department of Financial Institutions License number 510-MB-19802 and is a member of the Seattle King County Association of Realtors and Northwest Multiple Listing Service.

 
Star Posted by Brian Leavitt on 10/29/2009 01:22 PM   Comments (51)   freddie mac  
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51 Comments on Freddie Mac you broke my heart

20 Most Recent Comments Displayed Show All

OCT
30
2009
239,241 Points 16 Featured Posts Attended Rain Camp Called Shot Master

Interesting - I have found Freddie Mac to be the most responsive, especially with their whistle blower line on realtors scamming the system with listings that they fail to represent properly.
9:04am • #32

I must be the only one who has good experiences with Freddie Mac.  They handle thousands and thousand of foreclosures and I have NEVER had to wait more that two weekds for fully signed and executed docs.  Freddie Mac has offered $1500 selling bonus and 500 listing bonus, they paid buyer and seller closing costs too!  The small banks do not know what they are doing, they are the ones who take forever and make short sales a nightmare.  The real issue for you had to be one of two things; either the servicer (small bank with second lein) was needed to approve the sale ( and they take forever) or the listing broker did not know what they were doing.  Our office Gold Star Realty in Michigan handles hundreds of their properties every year, they list at good prices, offer great promotions to move the property and the people I work with at Freddie are true professionals.  Educate yourself more or you are missing the boat.
Karin
9:22am • #33
175,921 Points 14 Featured Posts Outside Blog

ahhhh..the Peter Pan syndrome..Freddie is a narcicist!
9:34am • #34
1,549,853 Points 277 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Karin- You are talking about foreclosures, we are all (it seems) talking about short sales. Those are two different ball games. Of course, Freddie is great with foreclosed properties, they own those properties. This is part of the problem. Why are they so easy to deal with when they own a property versus when a buyer wants to buy the property from the homeowner who they own the note of. Katerina
9:35am • #35

It depends who you are dealing with. The listing agent makes a big difference...
9:38am • #36

Great post! That Freddie just doesn't paly fair in love or business :)
9:41am • #37
297,118 Points 19 Featured Posts Localism Sponsor Outside Blog

Did you at least send flowers?
9:44am • #38
122,045 Points

Perhaps your should court Fannie and make Freddie realize what he's missing?
11:21am • #39
1,022,895 Points 15 Featured Posts Localism Sponsor Outside Blog Called Shot Master

I can hardly wait for the same people who brought us this kind of service take over health care. 
11:25am • #40
569,044 Points 1 Featured Post Localism Sponsor Outside Blog

Hi Brian,  Ahhh, such soulfull pain.  Sounds like you may have the makings of a great country song on your hands !  Welldone !
1:26pm • #41
122,675 Points 3 Featured Posts

What a wonderfully creative post.  So captivating and interesting to read.  Loved it.
3:26pm • #42

Thanks for making me smile. Your creativity is priceless. Have a great weekend. May i share this with my colleagues?
Beth Walsh
6:00pm • #43
171,393 Points 2 Featured Posts Outside Blog Hit Router Attended Rain Camp

this is just typical bureaucratic stuff.  Did you ever expect anything different?
8:05pm • #44
235,600 Points 4 Featured Posts Called Shot Master

I feel your pain Brian. Big. Clumsy. Slow. No one can make a decision.
11:21pm • #45
OCT
31
2009
514,977 Points 5 Featured Posts Outside Blog Called Shot Master

Well put Brian.  I have a hard time understanding why they, being the bank, should take so long to respond to offers and to all the short sales.  All I keep hearing is how swamped the banks are.  Well, there are plenty of unemployed people out there that need jobs and this situation has been going on for months.  Plenty of time to train the people they need and alleviate these slow responses. 

Thanks so much for your post!
12:20am • #46
Outside Blog

I have two contracts stuck in the same way. Both over 30 days past "oral" acceptance. Both may become moot. I keep showing the clients houses; just in case.
6:26am • #47

Fantastic! I really enjoyed your creative way of getting your point across. I needed this reminder on creative writing.
2:16pm • #48
NOV
01
2009
127,709 Points

Another tale of woe and shame in the foreclosure market.
9:11pm • #49
NOV
03
2009

Making a Positive out of a Negative--When one thing doesn't work out something better comes along.  I know that wasn't your point, but maybe it just wasn't meant to be.  Enjoyed your creative writing skills.
11:10am • #50
NOV
04
2009
699,772 Points 39 Featured Posts Outside Blog Called Shot Master

Good post, hope they see this. I've just closed on one and they were very timely with everything. OR maybe it wasn't them but the listing company?  Glad your happy in your new home - good luck!
9:00am • #51

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Brian Leavitt

Issaquah, WA

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Northstone Real Estate Inc. & Northstone Mortgage

Address: 1495 NW Gilman Blvd, Suite 16, Issaquah, WA, 98027

Office Phone: (425) 837-4700

Cell Phone: (206) 999-2289

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Real estate and mortgage advice, , thoughts, wisdom (or lack thereof), opinion, humor and general real estate and mortgage commentary. Based on more than 30 years of hard won experience and over 1000 homes sold. Blog posts are published most weekdays or so, and are provided as a service of Northstone Real Estate Inc. and Northstone Mortgage. Your comments, questions, criticism, opinions, diatribes, etc are always welcome.


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