Fannie Mae has made several announcements in recent months.
First, Fannie Mae has announced that they will begin offering
an incentive program aimed at trying to reduce property listing in
Fannie Mae’s foreclosure inventory. Fannie Mae hopes to
accomplish this reduction by trying to attract qualified home
buyers. Fannie Mae is offering to pay 3.5% towards closing
costs or the equivalent amount towards the purchase of new
appliances for a buyer who purchases a Fannie Mae foreclosure
property. Fannie Mae currently has over 50,000 properties
that fall into this category and this offer is available for homes
that close on Fannie Mae’s website www.homepath.com prior to May 1,
Fannie Mae has also offered special financing on the homes
purchased through HomePath Mortgages in the HomePath database.
These programs include special options such as low down
payments, attractive and flexible mortgage terms, no premium
mortgage insurance requirement and no appraisal fee necessary.
This HomePath Mortgage is not available on all of the Fannie
Mae homes, but you can check the HomePath website to see if your
property qualifies. With the help of these special offers,
buyers have the opportunity to take full advantage of a foreclosure
deal helping to reduce the amount of properties sitting idle in
many area markets.
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