Dear Fannie Mae.

Real Estate Broker/Owner with Tutas Towne Realty, Inc and Garden Views Realty, LLC BK607690

Fannie Mae

Dear Fannie Mae,

I am writing on behalf of Mr Sell M. Short. Mr Short has hired me to sell his property and to assist with negotiating a short sale with Bank of America.

We have been diligently working on this since May of this year. In July we submitted a complete short sale package through the Equator system and have been going back and forth with our negotiator since then.

First, Bank of America wanted a higher purchase price and the buyer agreed. Then they wanted a cash contribution from the seller of $2,500. Even though he has to borrow these funds he has agreed.

Now they are asking him to sign a promissory note in the amount of $15,000 with payments of $100 per month. Unfortunately, the borrower does not have the financial means to make these payments. So of course he is not able to agree to this request.

In the last 3 years Mr. Sell M. Short has already lost 4 properties due to foreclosure and has completed a successful short sale on another. He is not in a financial position to contribute anything more than the $2,500 he has already agreed to.

Therefore, we humbly request that you remove the requirement for Mr. Short to sign a promissory note so we can get this short sale approved and move towards closing.

The buyer is ready, willing and able to close at fair market value for this property. Foreclosing on this property will just reduce the values in the area even further and will cause Fannie Mae and the tax payers more unnecessary expenses.

I own and operate a nationwide network of close to 5,000 agents and attorneys who work short sales every day,  I would love the opportunity to post an article about a successful dealing with Fannie Mae.

Thank you in advance for your consideration.

Please feel free to contact me at any time.

Yours sincerely,

Bryant Tutas
Tutas Towne Realty, Inc

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The BIO for Bryant Tutas


 Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales,  Orlando Florida Short Sales, Celebration Florida Short Sales, Windermere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

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Re-Blogged 1 time:

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Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Reserved for TLW. Maybe she'll show up this time.

Nov 12, 2010 06:21 AM #1
Kathie Burby
Coldwell Banker Mother Lode Real Estate - Sonora, CA
REALTOR, SFR, Tuolumne County Real Estate Guide

Let us know if this letter to Fannie Mae brings you success on this short sale.

Nov 12, 2010 06:27 AM #2
Kim Boekholder Utah Real Estate
Results Real Estate 801.580.5624 - Draper, UT
Broker, Results Real Estate

love it, let us know if it works.  I looks like the situation my short sale is in.

Nov 12, 2010 07:58 AM #3
Maria Morton
Chartwell Kansas City Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

Hey there, Broker Bryant. This new thing the banks have started of asking the seller to bring more money to the closing table is annoying. After working for months on a short sale, throwing that requirement into the mix a week before closing is just plain rude. And...if the sellers had that kind of money, they wouldn't need to be doing a short sale to begin with! What is wrong with the banks? Greedy buggers.

Nov 12, 2010 04:34 PM #4
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

I don't see see how that "humble" request could possibly pan out BB.  It's truthful and sincere it seems, good luck!

Nov 13, 2010 01:14 AM #5
Justin Dibbs
Pearson Smith Realty - Ashburn, VA
REALTOR® - Ashburn Virginia Homes for Sale

Would love to hear what the outcome of this is, especially considering it's BoA.

Nov 13, 2010 01:16 AM #6
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It looks like every one wants to know the same thing.  Will this letter work?  Let us know.

Nov 13, 2010 03:12 AM #7
William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

Mr. Bryan Tutas

Tutas Town Realty, Inc

Dear Mr Tutas

On behalf of Fannie Mae let me thank you for your thoughtful letter concerning one of our accounts.

I have reviewed this account and {500} others today and after all due consideration believe our original decisions were correct.

I. M. Bureaucrat

Fannie Mae





2008 FRM CB1 Revised

Nov 13, 2010 08:08 AM #8
Charita Cadenhead
Keller Williams Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Bryant I say let's turn this letter into a petition.

Nov 14, 2010 12:37 AM #9
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County

Shame that they do not have the desire to work for the transaction but rather work for themselves...a false sense of importance, for sure!

Nov 14, 2010 02:29 AM #10
Armando Rodriguez
Orlando Homes 4 Sale, Real Estate Broker-GRI

They asked for the same things in one of my transactions. Both buyer and seller said no and the bank gave in. Go figure!

Nov 14, 2010 07:09 AM #11
Debe Maxwell, CRS | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Unfortunately what Bill says is the most likely response.  Damn bureaucrats!


Nov 14, 2010 11:28 AM #12
Andi Grant
310-508-4354 | - Los Angeles, CA
Helping 1st time buyers and home sellers in LA!

Good luck Bryant and please let us know how it turns out! 

Haha @ William's comment. He even has an old 2008 version date on the bottom.

Nov 15, 2010 10:32 AM #13
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

That's a positive approach to a problem.  Hopefully you'll get some good results.  If anyone can, I know you will.

Nov 16, 2010 06:03 AM #14
William James Walton Sr.
WEICHERT, REALTORS® - Briotti Group - Waterbury, CT
Greater Waterbury Real Estate

One, Billie didn't show up for this one. Bummer.

Two, this was a very good letter. Did anyone listen, or was it just like all the rest of our remonstrances, quitely pushed aside and ignored? It really shouldn't have been, imho.

Nov 17, 2010 03:45 PM #15
Michelle Carr Crowe,Altas Just Call...408-252-8900!
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

If anyone could get them to see or hear reason, it's you. Keep us posted.

Nov 17, 2010 04:28 PM #16
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

UPDATE: We are closing this transaction in 2 weeks. NO promissory note. $4,000 cash contribution.

Dec 27, 2010 04:16 AM #17
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Great idea. How do you find out who at FNMA to send the letter to? I'm a member of ShortSaleSuperStars, I need to read the posts more regularly.

Jan 30, 2011 11:32 PM #18
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Dave, Fannie has a special department set up to help Realtors(r) with short sales.


The Fannie Mae Resource Center can be reached at 1-800-7FANNIE (1-800-732-6643) Monday through Friday, between the hours of 8 a.m. and 8 p.m., Eastern Time.

Jan 31, 2011 05:59 AM #19
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Bryant, thanks so much!

Jan 31, 2011 06:27 AM #20
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