Possible complications in short sales. see this link
See links listed below (also listed on same site above) re approval of loans through FMae or F Mac
"... getting a loan modification on a loan owned by Fannie or Freddie is a much more difficult task as it requires more hoops to be jumped through and the ultimate approval of Fannie or Freddie with no ability to communicate directly to them. It also impacts how a short sale is handled so take a little time and find out if Fannie or Freddie own your home loan."
An interesting thing about Fannie Mae that we (not the linked site people) have encountered-- is that Fannie Mae is usually represented by large law firms which may just happen to be in the same city or location as the servicer or Trustee, that supposedly set up your home sale at public auction. Due to the data from the Wamu former employee that testified under oath in deposition, he stated that there was NO list of the mortgages that went from Wamu to JP Morgan Chase.....so if there was no list, that brings up the question, were there proper documents related to the LOANS that moved from Wamu to JP Morgan Chase? There is a lot of litigation on loans formerly originated by Wamu, and with CA Recon, Quality Loan Servicing, and many others.
Thus just because your loan supposedly is "owned" by a particular entity doesn't necessarily mean its ownership is actually bona fide. We have found that out from researching first hand.
Home Affordable Foreclosure Alternatives Information
The HAFA program can help you avoid foreclosure, sell your home and obtain up to $3,000.00 cash at closing. See if you qualify, Click Here.
NOTE: We (blog writers herein) do -NOT- give any representation that any of these links to Fannie Mae, Freddie Mac, HAFA etc, contain actual documentation which would be proven in a court of law, to be either legally sound, or proven up by competent foundation. [In other words, it might be listed, but does that, in and of itself PROVE it is correct? No. It could be listed but have legal problems that only you would know about? We know this only because we have a case which has this issue.]
If you find your data in a database such as these, you should contact an attorney in your own local jurisdiction to determine if in fact, your own loan is actually validly entered, and if there are problems or potential problems, you should check with both a realtor knowledgeable on foreclosure and an attorney familiar with the CA laws that are currently in place. Do not spend $3,000 or $5,000 for a loan audit that may not prove anything. A forensic audit can be somewhat expensive but in some cases, they are used by scam artists, as the FTC and the CA State Bar has warned---- buyer beware!!