You’ve heard of Fannie Mae home loans, but did you know that foreclosed properties on which Fannie Mae was the lender are offered by that same agency for amazing discounts? This federal agency has no desire to act as a realtor, and merely wishes to dispose of the property to the highest bidder, which is usually far below the market rate. Learn more about Fannie Mae foreclosures, and you’ll want to make this wise investment.
About Fannie Mae Foreclosures:
Fannie Mae is a nickname for the Federal National Mortgage Association, or FNMA. The properties held for sale by Fannie Mae are listed on their government website, for public access. However publicly announced, you need to realize that you’ll require the aid of a realtor in order to present your bid for consideration. These offers are not usually flat-out rejected, but either accepted or countered, for an agreeable compromise.
Only certain real estate agents deal in Fannie Mae properties. Check your local realtors to find out who manages these federal sales. Having good working relationships with local offices is a good business decision, no matter what. Be aware that you may need to establish working relationships with good contractors, as well, as Fannie Mae, like HUD, FHA, and VA properties are usually sold “as-is.”
Fannie Mae foreclosures are especially good investment opportunities because of their different loan programs. They offer low down payments, and, as mentioned above, are willing to make counter offers in order to get rid of the property. Be sure to investigate all about Fannie Mae homes, as well as all other forms of government foreclosure. A wise investment