Fannie Mae Announces 3.5% Buyer Assistance on REO Properties

By Carrie Bay, DSNews.com – Fannie Mae announced Monday that borrowers purchasing a Fannie Mae-owned property through HomePath, the GSE’s REO disposition operation, will receive up to 3.5 percent in closing cost assistance. The company has implemented this temporary buyer assistance program fairly regularly since the beginning of last year — a strategy aimed at helping the GSE unload a bloated supply of repossessed homes. Fannie Mae acquired 262,078 single-family REO properties through foreclosure in 2010, compared with 145,617 in 2009. Read more below.

Clipped from: www.dsnews.com (share this clip)

Fannie Offers Closing Cost Help for REOs (reowablog.wordpress.com)
REALTOR Magazine – Fannie Offers Closing Cost Help for REOs (katytx2010.wordpress.com)
April 11 to June 30th: Buyers Get 3.5% of their Costs Paid When Purchasing a Qualified Fannie Mae Owned Property (mklenahan.wordpress.com)

Fannie Mae, Foreclosure, Homepath, Real Estate Owned, REO

This entry was posted on April 14, 2011, 10:57 am and is filed under Foreclosure, Mortgage, Real Estate. You can follow any responses to this entry through RSS 2.0. You can leave a response, or trackback from your own site.

Salt Lake City Mortgage