Help track down Fannie Mae Asset Manager

[Christian Malesic]

I am running into red tape everywhere I turn. I have been trying to buy a particular property for over 14 months. Long story short: we had a deal, he stood me up at the settlement table due to depression, his lawyer filed bankrupTcy next day, assets were frozen for 8 months, foreclosure, sheriff's sale, Fannie Mae bought from bank.

I know this property intimately. I have Fannie Mae REO ID#. Know every detail of previous mortgage, foreclosure amount, etc. I have invested over $2k in appraisals, title searches, lawyers fees, etc. The Realtor assigned by the asset manager to the case does not return calls. My offer has been sitting on his desk for almost a week. I want to subvert the system. Talk with the decision maker directly (asset manager?), make a deal with cash and quick close with no contingencies.

How do I track this decision maker down?

[Christian Malesic]

I spoke with the Asset Manager today. I basicly called everyday, every number, every question I could think of. Finally, he actually called me.

Is was all for naught, though. All I learned through the process was that they WILL NOT DEAL. They are not allowed to, supposedly.

Everything must be done on the open market through Relators.

There is now a competitve bid situation (since it took 10 days to get my bid in and response). I want the property bad, but will not go high just out of fear of losing it. I bid my number, rejected their full price counter, and recountered by agreeing to a 10% earnest deposit and bumping up my bid a few thou. I present an all cash deal with no contingencies and a fast close - it can not get any better than that!

I am still convinced that I would have a contract by now if it were not for incompetent Realtors.

Newbies... beware of incompetent agents. Speed is paramount. Do not ever let the delay be on you part... hurry up and wait.