Grab a Fannie Mae REO with HomePath Loans
It's great to get some good real estate news for a change. We see opportunities for buyers everywhere we look! Enter REO: At today's rock bottom prices -- REO or "Real Estate Owned Homes" (i.e., in the bank's portfolio) are the best value going. Fortunately Fannie Mae and VA will fund their own 'acquired homes'. For buyers intending to occupy the home themselves, acquiring fixed rate terms at current rock bottom rates is a fantastic option. The Challenge: For most folks the home you can afford is the one you can get a loan for! Funding is a big conundrum with most REO's due to their often distressed condition, the quick sale aspect at auction and the mood of the selling bank. If you've tried your hand at closing a Foreclosure or Short Sale you know how much fun that can be. You do need a keen nose to ferret out a solid home beneath the banged doors and tall grass. The homes are generally sold without an appraisal 'as is'. That there...