Fannie Mae up close and personal

I have talked about Fannie Mae and Freddie Mac several times; two government run organizations that are considered too big to fail. Three weeks ago, we submitted an offer with two other people to Fannie Mae on a home in Grants Pass. The two have been disqualified, yet no response to our offer. We told the realtor yesterday that we are ready to withdraw the offer. The main reason is that winter is approaching and we live at 4100 feet elevation. We do not want to move in the snow. She communicated with the other realtor who interfaces with Fannie Mae and found out that they were moving to auction it off. Then we heard that they have already tried that with no buyers. The final words we heard were that Fannie Mae was shut down for 30 days due to a computer upgrade. Given that they have at least 191,000 foreclosed homes on their plate, we were disbelief that this could be possible, and that they could be this disorganized. This would never happen in a private business. These two companies have no incentive to be efficient, save money, or respond in a timely manner. They are a great example why we do NOT want bigger government. There is no incentive to perform.

There is no downside for them like a business that would no longer exist if it acted in this manner.

After I moved through my emotions around this, I stepped back and know that the Universe is looking out for the greater good. We cannot escape our feelings, but once we understand their purpose, then we can trust the bigger picture. By the way, we gave the realtor until close-of-business next Friday to come through. If not, then Fannie Mae can keep it on its plate with the others.