Just reported today from We The People.com…

It appears that Fannie Mae, the Government Subsidized Entity (GSE) is gouging homeowners in trouble with a standardized decree to request a minimum of 20% more than market value…on their Fannie Mae backed short sales.

What does this mean?  When a distressed homeowner requests a short sale, Fannie Mae demands 20% more on the sales price, in effect, making it nearly impossible for distressed homeowners to complete a successful short sale.  Many of these homeowners are forced into foreclosure as their homes are overpriced by 20% or more as compared to like homes in their market.

Sign the petition and send a message to Fannie Mae:

https://petitions.whitehouse.gov/petition/force-fannie-mae-behave-responsibly-or-shut-them-down/vtY71bhk?utm_source=wh.gov&utm_medium=shorturl&utm_campaign=shorturl

Force Fannie Mae to behave responsibly or shut them down.

Fannie Mae admits to demanding 20% more than market value for short sale properties – forcing homeowners into foreclosure. They then offer the properties to the public on their homepath.com website at 20% above market value and will give a federally sanctioned Fannie Mae bad loan for this price if the buyer “takes advantage” of not paying for an appraisal. These are the type of manipulations which destroyed the property market. As a federal bailout, Fannie Mae should be forced to act ethically and responsibly or they should be shut down.

Fannie Mae admits to demanding 20% more than market value for short sale properties – forcing homeowners into foreclosure. They then offer the properties to the public on their homepath.com website at 20% above market value and will give a federally sanctioned Fannie Mae bad loan for this price if the buyer “takes advantage” of not paying for an appraisal. These are the type of manipulations which destroyed the property market. As a federal bailout, Fannie Mae should be forced to act ethically and responsibly or they should be shut down.

 

By,

Kris Darney