Fannie Mae Repossessions

What are Fannie Mae foreclosure homes?

The Federal National Mortgage Association [FNMA, commonly know as Fannie Mae, obtain homes from lenders who foreclose on home loans and offer them for sale to the public. These homes usually are found at a discounted price.

How can I locate Fannie Mae foreclosure homes?

Locating Fannie Mae foreclosure homes is both simple and easy when you our listings. By simply singing on, you can search for them in seconds. Also, you will be able to locate realtors that may be able to help you find Fannie Mae foreclosure homes.

How can I buy Fannie Mae foreclosure homes?

Fannie Mae sells the properties through real estate agents, and a real estate broker is necessary in order to purchase Fannie Mae foreclosure homes. It is through the real estate broker that you can present your offer. Real estate brokers will then submit your written offer at the actual auction. After the auction, Fannie Mae will be the negotiator between you and the broker until a satisfactory price is reached.

How much money do I need to purchase Fannie Mae foreclosure homes?

A down payment of 3% to 5% of the purchase price is usually what Fannie Mae asks for.

When purchasing Fannie Mae foreclosure homes, what should I be aware of?

Although Fannie Mae usually repairs properties, a repair is not necessarily guaranteed. You should always investigate the property thoroughly before making an offer.

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