Jackie, Welcome to Activerain. Combined, there are thousands of years experience on ActiveRain. If you can't find it on here, it probably doesn't exist. There is more data here than you could read in a lifetime. 100's of members join each day, and thousands of posts go up each week!
As an ActiveRain member, I am willing to share whatever resources I have to help my fellow Active Rain members. Thank you for reading my Activerain blog post on Fannie Mae. I would be glad to assist you.
I have gotten several inquiries from other Realtors and homeowners about my April 2010 blog post -
Your Question was:
How were you able to contact Fannie Mae (Bank of America's Short Sale) to rescind the Foreclosure? I just had exact same situation for my Bank of America short sale listing on July 27.
I am seeking every possible way to save this client (seller) from losing her home in unnecessary foreclosure.
We have a ready-willing cash buyer and their agent told me that they will wait for us while we try rescinding the foreclosure. If you could share with me whom you contacted (email address or fax number) to request rescinding the foreclosure, it will greatly help us. Thank you again for your time and kindness.
Jackie Hasegawa, Coldwell Banker
Jackie, I had attended a Freddie Mac Regional some months back and had met the Freddie Mac Loss Mitigation Manager. She had shared Freddie Mac's viewpoint on the fact that if a Short Sale made sense they were approving it!
I immediately went online to verify who owned the loan. I found it was Fannie Mae. Knowing that Fannie Mae had to have similar guidelines and hoping that they had a make-sense person at the helm of their Loss Mitigation Dept, I began my search for that person.
I then prepared a letter/email explaining the details; making sure to stress the fact that I had an excellent cash offer at market value, a buyer willing to purchase As Is and could close within 15 days. I appealed to their bottom line mentioning that this could be one less REO to add to their already staggering inventory.
After an extensive Google search, I sent my appeal to the Director of Servicing Management and Operations National Servicing Organization - Dallas ( NSO Inquiry Management -firstname.lastname@example.org ) by both snail mail and email to ensure they received it. It took about 2 weeks for me to hear something, but I got copied in on an email showing that it had been escalated. I got a call the very next day asking if the Buyer was still interested and if so, requesting I send over an updated HUD.
So if you know that you have a good offer and your Buyer is willing to hang in there with you, push forward and good luck! As my Mom used to say, "Remember, the squeakly wheel gets the oil!"