Fannie Mae Has Deals on Foreclosed Homes

If you’re planning to shop for a home in the coming few weeks, here’s an early spring buying season come-on that just might save you some money if you qualify.

Fannie Mae, the largest mortgage investor in the country, has a bulging portfolio of houses acquired through foreclosures nationwide. Roughly 31,000 of these properties are listed on its “HomePath”

Take the guesswork out of trying to guess the value.  Contact the real estate appraiser at www.scappraisals.com  to assist with sale price negotiations.

homepath.com resale marketing site. To move them quickly out of inventory, Fannie temporarily is offering qualified owner-occupant purchasers — but not investors — cash incentives toward closing costs of 3.5 percent of the purchase price. But you have to submit your initial offer no later than March 31 and close by May 31.

Visit the site and you’ll see the houses run the gamut — from a one-bedroom condo unit in San Diego to a four-bedroom, four-bath single family home in suburban Montgomery Village, Md. Some states have thousands of HomePath listings online: Florida has nearly 12,000; California, more than 2,300. Asking prices range from $30,000 to $600,000 or more. On a $400,000 house, the 3.5 percent closing cost incentive would amount to $14,000.

read more at: http://www.utsandiego.com/news/2014/feb/23/tp-fannie-has-deals-on-foreclosed-homes/

Disclaimer: for information and entertainment purposes only

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