Welcome to Foreclosure Guide
Fannie Mae Foreclosure Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
A Home Inspection is an absolute must for Home Foreclosure Properties
from:There are many reasons for buying real estate property and one of them is to buy your own home. There are many tax advantages available for buying residential property. The government and most financial lending institutions offer tax benefits, favorable appreciation values, and finance options to homeowners
With the questionable economy today in the United States, it is pretty much a buyers market. This means that the selling price on affordable homes have come down in prices. Many families are facing home foreclosure and are selling often time at well below market value just to get out from under that debt. Like any other investment, the investor must purchase wisely.
When buying from a family facing home foreclosure, chances are the property may not be in the best of condition. Since money is an issue, the family may have also had difficulty keeping up with maintenance and repairs.
You will need to have a home inspection done, often called a pre approval inspection. That way you will know if the building is worth the selling price or if you will have to put out additional monies to bring the home up to building codes and your own esthetic needs.
A building inspector hired for your home foreclosure lead will be looking at such things as electricity and plumbing. An inspector will also look at the structural foundation of the building, checking the landscape, exposure to heat from the sun and rain or strong winds, and the inclination. The inspector will be looking for water damage, leaks and creaks, both on the inside and outside of the house. The inspector will take note of the gutters, downspouts, outside paint or siding, condition of bricks, wood, paneling, and the condition of the roof. Inspections will also be done upon the fuses, heating and cooler systems, fans, air conditioners and vents, as well as the fire alarms and security systems.
If the home foreclosure unit comes with appliances such as refrigerator and stove these appliances should be checked as well. A very important condition to look for is the water pressure. For example, many older homes lack sufficient water pressure to enjoy a pleasant shower. If you are looking for home foreclosure property in colder climates make sure that the water pipes are not only in good condition but are properly insulated as well.
If any problems come up in the inspection, you can use the cost of the repairs to negotiate a lower sale price if you still want to consider this property.
A very important thing to consider is whether or not the family is still living in the home foreclosure before you buy. You want to avoid eviction costs and legalities. There should be a stipulation in the lease that the occupants must vacate the premises as soon as a the property is sold, this becomes even more important if it is more than a single dwelling home foreclosure unit that you are purchasing for yourself and other family members.
Fannie Mae Foreclosure News
Fannie Mae, Freddie Mac 2012 bill sale calendar - Reuters
 Retirement Planning | Fannie Mae, Freddie Mac 2012 bill sale calendar Reuters May 22 (Reuters) - The following is a list of scheduled US agency bill sales from Fannie Mae and Freddie Mac for 2012. Freddie Mac said 3-month and 6-month bills will be auctioned every week. In addition, 1-month and 12-month auctions are optional each ... Could Fannie and Freddie Pay Back Taxpayers Someday? Pollster: Fannie, Freddie 'the Kardashians' of housing crisis BofA Will Buy Back $330 Million of Mortgages From Freddie |
The agricultural version of Fannie Mae - Kansas City Star
The agricultural version of Fannie Mae Kansas City Star If the taxpayer is picking up almost all the risk, however, it begins to look like the agricultural version of Fannie Mae's business plan: privatized profits, socialized risk. Keep in mind that producers of many crops, such as fruits and vegetables as ... |
Fortress Seeks Servicing Rights From $4 Trillion Sale: Mortgages - BusinessWeek
Fortress Seeks Servicing Rights From $4 Trillion Sale: Mortgages BusinessWeek One potential challenge is how servicing-fee reductions under review by the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, will affect the value of mortgage-servicing rights, according to a report by Bose George, ... |
Exclusive: Housing chief leaves Morgan to launch buy-to-rent fund - Chicago Tribune
Exclusive: Housing chief leaves Morgan to launch buy-to-rent fund Chicago Tribune The wave of new funds marks an indication that investor interest in foreclosed homes is widespread. Some of that interest has been spurred by an initiative by the Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, ... |
A federal foreclosure lecture California can do without - Los Angeles Times
A federal foreclosure lecture California can do without Los Angeles Times The general counsel for the Federal Housing Finance Agency, the regulator overseeing Fannie Mae and Freddie Mac, certainly seems to think so. At issue are two bills backed by California Atty. Gen. Kamala Harris to set new rules for the foreclosure ... Reply to comment Special programs to reduce principal on mortgages are attracting praise ... Principal Reductions Won't Solve the Mortgage Mess |
FHA New Foreclosures Jump as Modified Loans Default: Mortgages - Bloomberg
 Bloomberg | FHA New Foreclosures Jump as Modified Loans Default: Mortgages Bloomberg Lenders initiated foreclosures on 36400 FHA-backed mortgages, twice the number in April 2011, according to Lender Processing Services. The increase for Fannie Mae and Freddie Mac loans was 13 percent, the Jacksonville, Florida-based mortgage- data ... Fannie, Freddie are set to reduce mortgage balances in California Fannie Mae reports profit for first quarter Fannie Mae Swings To 1Q Profit As Loan Loss Provisions Plunge |
Ed DeMarco could hasten end to foreclosure crisis by allowing debt forgiveness - Washington Post
 Los Angeles Times | Ed DeMarco could hasten end to foreclosure crisis by allowing debt forgiveness Washington Post Everyone is waiting for Ed DeMarco — director of the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac in their government conservatorship — to rule one way or the other. Whether DeMarco allows forgiveness of some mortgage ... Fannie Mae posts profit, doesn't need Treasury aid Fannie Mae posts biggest profit since 2007 Fannie Mae Won't Seek Aid After Posting $2.7 Billion Profit |
Shasta County home sales slip, but median price rises - Record-Searchlight
Shasta County home sales slip, but median price rises Record-Searchlight Meanwhile, the California Association of Realtors has endorsed bipartisan state legislation that calls for the federal government to cease its plan to sell Fannie Mae-owned foreclosed homes in California to large investors. |