AgentMortgage

My Fannie Mae loan nightmare

Home Sale Hindsight
Published on Dec 4, 2009

Q: I have had my home for four years. I lost a job, which put me behind. This year, I was offered a Fannie Mae loan that brought me current -- I signed the documents and everything -- and I have been paying my loan on time for nine months. Then my mortgage company called to tell me that my loan is "no good" and I will need to fill out and be approved for a different loan. I have been calling them back for two months now, and no one will call me back or give me any answers. Every time I call, they say it is being reviewed by upper management. I do not know what to do from here. I have loan documents saying I have a loan, but both my credit report and my loan statements show that I am still in foreclosure. What happened here? What should I do going forward? A: My friend, you are in a pickle. There might be no person on the planet who truly knows what exactly went wrong with your situation. I will hazard a guess, though, that some underwriter or funder or auditor no...

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