Can Fannie Mae Deny A Short Sale ?

#1
I am working with a short sale specialist realtor who told me that B of A could approve my short sale but Fannie Mae could turn it down and I would probably not have time to agree to a mortgage agreement with B of A so I would be foreclosed on. Is this true?
 

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
#2
Yes, the ultimate decision is with Fannie Mae.
 

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
#4
They have their own internal processes. No one really knows who will get approved and who will not. It is the luck of the draw. Kind of like winning a lottery. Yes, it is common for them to decline, but also not impossible to get an approval. I say your chances are 25% chance or less of getting it through.