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Fannie Mae brings back REO buyer incentives

Fannie Mae is promoting their REO inventory by offering to help with closing costs (lower your out of pocket costs) if you buy one. If you're considering this strategy with the attendant potential repairs and updating we can help you find one, see one an

Last Update: 2011-04-16 13:30:39

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Fannie Mae is once again offering closing-cost assistance for buyers who close on a home in the mortgage giant's real-estate owned (REO) inventory, but in most states will not bring back cash bonuses it previously paid to buyers' agents.

Buyers who put in initial offers on or after April 11, and close on the sale of a Fannie Mae HomePath property by June 30, will be eligible to receive up to 3.5 percent in closing-cost assistance.

The offer is only good for buyers who intend to occupy the home they are purchasing as their primary residence -- second homes and investor properties are not eligible.

Offers submitted before May 15 have the best chance of qualifying, Fannie Mae said, as offers submitted after that "are particularly questionable for closing" by the June 30 deadline.

If your interested we can help you find one, see one, asses it and hook you up on getting the work done too. Just Send Me a Note and put me to work for you.

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