broken pencilHonestly, I don't know why things don't work right at Fannie Mae. I know simply that no matter what kind of short sale bank I'm working with on a short sale, if the investor is Fannie Mae, it means problems. Problems for me, problems for the seller and, by extension, problems for the poor buyer.

You'd think the government would fix Fannie Mae, but it can't. It can't fix Fannie Mae and it can't fix Freddie Mac, either. Here is a blog about Fannie Mae and Other Things That Don't Work Right.

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Elizabeth Weintraub is an author, home buying columnist for About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.

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Lyon Real Estate is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice. It could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

 

 
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7 Comments on Why Things Don't Work Right at Fannie Mae

AUG
08
1,120,612 Points 102 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Give you a big ole' AMEN on that one.  They don't go well on REOs either.  I have cash buyer with offer of 10 grand more than list on a property and they (fannie) withdrew from contract because they won't sign the GA power transfer lease form.  "It's not on our approved form list"  SERIOUSLY?  They want to continue to pay land lease fees with my tax dollars and not SELL the property to my cash buyer because the "form" isn't on the list. 
7:07am • #1
275,890 Points 17 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Oh you hit the right note with this one.  I just wonder where the people with common sense have gone.
8:14am • #2
226,884 Points 4 Featured Posts Outside Blog Called Shot Master

Very frustrating and an example of how our tax dollars are being wasted! Regards Dave
8:23am • #3
534,754 Points 8 Featured Posts Outside Blog Called Shot Master

Elizabeth,  you are the one who would know how to make short sales go smoothly so I respect your opinion.  Perhaps it is time for Fannie Mae and Freddie Mac to be dissolved and new entities put in their place.  That is just my opinion as someone on the sidelines watching and reading about everyone's frustration with these two behemoths.
10:12am • #4
1,521,703 Points 112 Featured Posts Localism Sponsor Outside Blog Called Shot Master

This comment is not at ALL related to Fannie Mae short sales, but I thought you would find it interesting that my husband worked as a software engineer on a year contract with them.  The work environment was so depressing that he was completely miserable and eventually just quite that contract.  
12:15pm • #5
AUG
09
671,283 Points 8 Featured Posts Outside Blog Hit Router Called Shot Master

Morning Elizabeth I'm at a loss for words but the bureaucracy at that large of a place I can see where by the time it goes from one hand to the other it may take awhile.
6:31am • #6
986,706 Points 106 Featured Posts Localism Sponsor Outside Blog

Hey Tammy: I don't know the form you are talking about because I obviously don't work in Georgia, but in CA, when the REO banks won't sign our documents, we note in the file they refused. Some day some of these things might come back to bite them.

Kathryn: Were did the people with common sense go? They went to Pocatello.

Hi Dave: I don't think we know where the line stops.

Hi Mary: I can understand the government wants Fannie Mae to make a profit but does it have to be at the expense of the American people?

Hi Chris Ann: Ha, I don't blame your husband. Who wants to work in a toxic environment?

Hi James: Yeah, I think we're stuck with them for the long haul, unfortunately.
7:19am • #7

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Elizabeth Weintraub, Sacramento Short Sale Agent, Land Park, East Sac, Lyon RE

Sacramento, CA

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Address: 2801 J Street, Sacramento, CA, 95816

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Broker-Associate at Lyon Real Estate, midtown Sacramento. Selling since 1974. Home Buying Guide at About.com. Sacramento short sale agent.
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Author Bio: Elizabeth Weintraub is a Sacramento real estate broker, author, home buying guide for About.com, a Land Park resident, and a Land Park agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully closes short sales throughout Sacramento four-county area. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you.

 


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