HomePath Mortgage / Fannie Mae HomePath Mortgage
I went to purchase a Fannie Mae Homepath R.E.O. property with a cost of $79, 900. I was also going to use the Homepath Incentive Program allowing Fannie Mae to contribute up to 3.5% of the purchase price to the closing costs. However, I was unable to obtain the loan because of the lack of loan experience or credit experience. However, as my credit rating shows: 720, 740, and 740 my credit ratings are outstanding by most peoples' opinion. Furthermore, I had credit history including student loans, and automobile loans ($10, 000) which have been paid off in the last year. So, what is the problem? I also have had a credit card for going on 7 years in which I have paid off every month since day one! If the above examples are not good enough to prove that I am an outstanding person when it comes to finances I don't know what to do... As a first time home buyer I am outraged, pissed off, and further more want my tax money back that was paid to this company so they wouldn't go down in flames! So here's to you Fannie Mae, go to hell, go ### yourselves, and I hope you go bankrupt as you so deserve for poor business practices. If I don't get this house, I am pulling out of banks all together... money, retirement, all of it! I can save and spend money without you!