Fannie Mae’s Plan To Unload Foreclosure Properties
In an attempt to help fix the US housing market, Fannie Mae has begun a new initiative to sell houses to investors. Details released by the Federal Housing Finance Agency indicate that the properties will be sold in bulk to investors and that they must be rented out. The investors had to qualify in order [...]
5 Tips for Buying a Foreclosure
When lenders take over a home through foreclosure, they want to sell it as quickly as possible. Since lenders aren’t in the real estate business, they turn to real estate brokers for help marketing their properties. Buying a foreclosed home through the multiple listing service can be a bargain, but it can also be a [...]
Strategic Default will get you "locked out" by Fannie Mae
In a strategic move, some homeowners have decided to walk away from their homes even though they could still afford the payments. They simply decide that their value is too low and they either short sale or allow the bank to foreclose. Fannie Mae, making a clear statement, announced Wednesday that they will “lock out” [...]