Cathy Robins…, Both Buyer and Seller in Punta Gorda, FL

Why does the seller Fannie Mae, keep asking for extensions for our closing date?

Asked by Cathy Robinson, Punta Gorda, FL Fri Apr 8, 2011

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Alma Kee, Agent, Tampa, FL
Sat Apr 9, 2011
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Hi Cathy,

Did your agent search the public records and determine if this actually went to a foreclosure auction or did the borrower do a Deed In Lieu of foreclosure? It sounds like the latter if they don't have the quit claim deed in their hands. Or it may be that the lender foreclosed or fannie mae and that foreclosing lender needed to sign a quit claim over to fannie mae.

So, unfortunately you have little to no control over the situation but hopefully it will eventually close.

One other problem is if the law firm that did the foreclosure is one of the known fraudulent filers.

Your agent can contact the title company to get a better explanation of why they need a Quit Claim Deed and who they need it from.

Hope this helps.
Alma
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Cathy Robins…, Both Buyer And Seller, Punta Gorda, FL
Sat Apr 9, 2011
My agent is in contact. The answers are always vague. They just write pending QCD from servicer on the extensions. Quit Claim Deed info is on the internet of course and those definitions don't reassure me either.
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Michael Emery, , Minneapolis, MN
Fri Apr 8, 2011
I don't know.

That's the best answer anyone can give you with as little information as you have provided.

Has Fannie Mae given you a reason for delaying closing? Have you talked to your agent? Is your agent in contact with the listing agent?
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