REO Sales Increase Due To Fannie Mae Incentives

InmanNews (Inman.com) reported today that there are some incentives to purchasing a foreclosure, for not only the buyer, but also the real-estate agent.

In September 2008 it seemed as if our financial world was heading towards a collapse. That is when the government came along and took over Fannie Mae as well as Freddie Mac.

Both Fannie Mae and Freddie Mac are 80 percent owned by U.S. taxpayers, with estimates as large as $1 trillion to fix their problems; the future for both of them is still in question.

Fannie Mae has pushed thousands of its properties back into the real-estate market that are foreclosures. Homepath.com, launching in 2009, has become a great site for their homes to be noticed. This website helps potential buyers looking for a foreclosure take a ride in the driver’s seat by having a right at your fingertips search tool that lets you search specific areas and so on.

Fannie Mae has also decided to provide some incentives to purchase a foreclosure. Qualified buyers, who will occupy the residents, can receive up to 3.5% towards closing costs. While selling agents, who represent the seller, will receive a $1,500 bonus.

For more information on foreclosures in your area checkout homepath.com to see if you qualify for these incentives. 

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