Foreclosure Tales from The Interwebzs: Fannie Mae – Nightmare


Fannie Mae – Nightmare

Random ‘rants’ found across the Interwebz.

We found a property through coldwell banker, made an offer and it was accepted.The agent showed us the house several times, and even went over the property lines.

We paid cash, got the keys at closing and immediately went to work fixing the home. To the tune of an additional 60k over what we paid. This was 9 months ago. We recently found out that fannie mae had wrote the wrong property description down, and we may have purchased property they never legally had the right to sell.

Who the *** is responsible?The seller ( fannie mae), the agent ( coldwell banker), the title company, or the closing company?




7 Responses to “Foreclosure Tales from The Interwebzs: Fannie Mae – Nightmare”
  1. terry says:

    okay folks here is the big key. the wal-street mongrels invest into properties too, to control the market pricing in any area of any state. Florida is on the top of that investment strategy. so wake up homeowners your home could be like my home. on the list. you may not even know that a so called investor has a picture of your property and is going to pay top dollar for your home before you get thrown in the street. I was offered money to leave my home quietly, I didn’t go quietly so I lost everything. the buyers paid $100,000 over market value a whopping $280,000. that tripled the price for the market where I used to call home. Now the taxes on the same property have tripled too. does that seem to ring a bell on the collusion involved with the banksters and wal street and the control of markets?

    • BOBBI SWANN says:

      Before everyone goes on a rampage over your post, you probably aren’t even aware of certain facts. First of all, even if there is some sort of ‘investment strategy’ in Florida for these investors to buy up property why would anyone sell so cheap to this investor? For what purpose? You think buying a house for top dollar is somehow going to manipulate the market? And in case you haven’t kept up with real estate market news Florida is seeing a surge in values, yes, but it’s due to the shrinkage of inventory and not because some scheme for some investor to buy up properties that will somehow control the market. Also, if your house went into foreclosure in Florida then it does go out to bidding and the highest bidder wins. That’s usually how bidding works. Your home, when you owned it most likely had “homestead” filed and along with homestead comes ‘capping’ of taxes. So your taxes would not be going up at the same pace as all the houses in your neighborhood as they sold and re-sold. Market goes up but your taxes remain at a steady even pace. Now, when you gave up your property it loses the homestead and it also loses that cap. Not unusual for taxes to triple on a property especially if you had owned that property over 10 years.

      So before you go spouting about some sort of scheme and collusion with your real estate taxes, try education first.

      Finally, when the news is spewing about markets being controlled, they are referring to the stock market~not the real estate market. Wall Street doesn’t survive on the real estate market.

      I still have not figured out how your post has anything to do with this original posting of a couple who purchased a home in CASH. Big difference with cash and a mortgage in your case.

  2. terry says:

    yea Freddie Mac told me they don’t forgive, wrongful foreclosure accrued fees illegal and
    self servicing is a scandal

  3. John L says:

    I’m sure you had a Title Company or Attorney who pulled title, and sold you a Title Policy?

    If so, file a claim. I’ve personally seen one of the larger Title Insurers jump into action. And the parties harmed were made whole.

    Find a reputable Title Attorney, and enlist his or her services.

    In the event you did not purchase a policy, or use an attorney /Title company (which I seriously doubt ), then you may have left yourself open to losse, but I still believe the Seller (Fannie?) Will want to eventually make you whole as to not advertise their incompetence.

    Be well,
    John in Maryland

  4. BOBBI SWANN says:

    One word for this purchaser: STUPID Did not check or buy title insurance or check the chain of title?

    • Julia Young says:

      Have a little tolerance Bobbi. Trump and a ton of TV home flippers are making a fortune via ‘free’ seminars telling people they can make a ton of money flipping houses. The catch is they have to buy a package often into the thousands of dollars to learn how to do it. The ignorance comes by not realizing these people make their money selling dreams where people fail to realize the profit is from selling seminar packages or often sight unseen overpriced turnkey investment properties. Anyone can do it! Doesn’t require research, knowledge, experience,integrity, ethics or anything but a little cash and the dream of turning it into a fortune!
      Lottery dreamers!

      • John L says:

        Julie, what in the world does “Trump” or any other Educational Source have to do with this situation? Nothing.

        Leave politics out of it. If they (the buyers) were sold a property Fannie had no business selling, that’s not their fault!

        Put blame where it is really due!

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