The Washington Business Journal reports that Fannie Mae is wanting to get rid of all the houses that are currently their possession. In order to do so, they are offering incentives for agents and buyers on the homes that have been foreclosed and are therefore in Fannie Mae’s hands. ”They will give you up to 3.5 percent of the final selling price back to be applied toward closing costs or a home warranty. It is also offering real estate agents and brokers a $1,500 bonus if they bring a buyer to the table” (Washington Business Journal). This sounds like a great deal and is a huge motivator for both buyers and agents. However, in order to qualify for this particular incentive that is currently being offered as of September 23rd, 2010, one must close the sale by December 31st of this year and the sale must also close within 60 days of the buyer’s offer being accepted. Another small requirement that the Washington Business Journal states is that the offer only applies to buyers who are buying the home with the intent to live in the house. In other words, investors are not eligible for this offer. Along with the above incentive, Fannie Mae is also offering special and renovation mortgage financing on the properties that are being purchased.  These properties are being marketed and sold through a program called HomePath. So in order to view these properties visit www.homepath.com and search by your region of choice. If you are interested in this offer or would like to learn more about Fannie Mae or this special offer, visit the following links located at the bottom of the blog.

Side Note: In case you do not know what Fannie Mae is.. “Fannie Mae is a government-sponsored enterprise (GSE) chartered by Congress with a mission to provide liquidity, stability and affordability to the U.S. housing and mortgage markets. (ww.FannieMae.com)” To learn more about Fannie Mae, click HERE.

To read the full article click HERE.

Sources: Fannie Mae – http://www.fanniemae.com/kb/index?page=home&c=homepage

The Washington Business Journal – http://washington.bizjournals.com/washington/stories/2010/09/20/daily39.html?ana=e_pft

This entry was posted on Tuesday, September 28th, 2010 at 12:57 am and is filed under Buying, Financing, Real Estate News . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.