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Fannie Mae Title Issues

Hello,
My wife and I are currently in a contract with a Fannie Mae property for about 3 months. The home is in great condition and only a few years old. The issue is that they have already extended the closing date twice. Their agent says that they are waiting on the sheriff's deed to be recorded. We finally decided to call our title company and they called the seller's realtor. The title company was told that they submitted the deed only 1 month ago and is now waiting. We then called the Philadelphia's dept of records and they told us they have not received anything yet!
We are now completely confused on where the whole process is at. Our realtor does not seem to know anything and doesn't want to keep bugging the other realtor (Honestly I would change realtors if I could).

Is there a way to call Fannie Mae directly and discuss this with who ever is handling the house? Even some clarification on how the process of recording the deed works would be helpful...
We really want this house and time is running out on our lease.

UPDATE: We called the realtor straight up and now we were told that they are waiting on the sheriff deed... I thought it was supposed to be issued after the auction?

Thanks all
  • October 10 2012 - Philadelphia
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Answers (3)

Hello,
WOW its interesting that our experiences are almost identical! I know you posting is a bit dated but I am curious to know if you were ever able to take possession of the home or not? I am currently in month 3 of this process as well and I am very close to walking away. If there are any resources you can provide or advice you can give I would really appreciate it.

  • May 14
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I'm sure you either received deed and closed or moved on by now Long story short as a real estate broker I can tell you the following: Sheriffs office is insanely slow, impossible to deal with and mostly corrupt They do what they want l, when they want. 3 months is about standard waiting time so you probably received it shortly after you posted. Dan
  • June 08 2013
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Sorry to hear you are going through a frustrating time.  I'm in Lackawanna County but I have also heard of Sheriffs Deeds taking forever to get recorded.  Months.

Calling Fannie Mae is not going to help. More than likely it is an asset manager who is handling the file.  Changing Realtors will not help.  The Realtors have no influence on the process.  As far as understanding the process - there is no rule book or absolute time frames.  What should be often is not.

Try calling the Sheriffs office and inquire about the status of the deed. If you have the tax id and property address you should be able to get connected with someone who either knows the status or can expedite it for you.  You are dealing with Bureaucrats and paper pushers.  Best to be pleasant and not irate.

Once you know the status you can better plot your next move.  If it has not been recorded try and appeal to them.  Most government offices are up to their ears in paperwork.  If it has been recorded note the person and their phone extension and get the date of recording.  Have your agent ask the sellers agent to contact the asset manager again with the status.

I think the public records are online in Pa.  You should be able to go to the county website and look up the recorder of deeds.  You should be able to search on the property address to see any and all docs recorded.  If it is recorded you can print a copy to include in correspondence.

Any foreclosure or short sale is a case of endurance.  I have never seen one close in a normal time.  Your agent should have informed you this process is often not smooth.  I have one now we are waiting 45 days to get an answer to our offer.  I had another one take 6 months to close.

Contact your landlord and explain the situation to them.  Many times a landlord will allow you to go month to month if you give them 30 days notice once you know your closing date.  Agree to be cooperative after you give notice so the landlord can show the property and line up a new tenant.  You may have to delay your home closing a couple of weeks or pay an extra months rent to coordinate your obligation to the landlord.

Even though you are under stress try to be calm when dealing with these people.  Getting hostile will only have negative results.
  • October 11 2012
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