http://kevinandfred.com/power-hour/investors/
Kevin and Fred discuss some of the basics about short sales and investors. To access the Fannie Mae loan Look up, click on the the picture of Kevin Dorothy. To access the Freddie Mac Loan Look up, click on the picture of Fred the scarecrow.
After watching this clip I going to try and contact Fannie Mae directly today. The servicer, Wells Fargo told me that Fannie Mae will not allow a 14 day extension on the short sale approval.
So if this has happened to anyone else I would be interested in finding out any ideas to help me achieve an answer on whether Fannie Mae is truly telling Wells Fargo not to extend.
FREDDIE MAC:
https://ww3.freddiemac.com/corporate/
FANNIE MAE:
http://www.fanniemae.com/loanlookup/
I’ve been actively woking with short sales for the past 2.5yrs, and have always attained good results simply working with the servicer (granted getting through their red tape can be quite difficult), however for the past 4 months or so, I have noticed and increasing level of difficulty in working with these “fronters”, requests that had its level of difficulty, are now much harder to get, request for postponement of sale date, Wells says in FL it need 14 business days heads up from the scheduled closing date or sale date to be able extend anything (I live in FL, and have personally gone through the foreclosure process, I have attorney friends that do foreclosure defense, point is, the judge certainly does not require that much heads up), they keep blaming the Investor. On another case again with Wells their BPO came in 17k above market value (on a 55k condo), after numerous fights and futile attempts to dispute their BPO, I even tried having the Homeowner order his own BPO, and submitted that, to again be turned down, I was ready to quit, but you guys brought new light to a number of my cases.
Thanks for sharing you experiences, this is great!
@Kevin – congrats on getting on this list… Everybody – please vote for for Kevin:
http://www.inman.com/news/2010/10/27/peoples-choice-real-estates-most-influential
Only one vote….I gotta vote for Fred. He’s on the list too!
Without getting the info from the Listing Broker regarding who the investor is on the REO, any thoughts?
Lori,
Can you please clarify your question. I didn’t understand.
Thanks,
Fred
If the investor is neither Fannie nor Freddie, is there any way to find out who it is other than contacting the servicer?