Fannie Mae REO “First Look”

4 12 2009

A new change and big bonus for the Fannie Mae owner occupied Buyer. Starting this month only owner occupied Buyers will be able to Bid on Fannies REO homes for the first 15 days, after that investors may bid. They will also be given 45 days to close a transaction verses an investor who only has 30 days. A local public agency involved in “neighborhood stabilization” or community development projects will also qualify to bid in the first 15 day period.

The government is trying to put owner occupied homes in neighborhoods hardest hit by foreclosures.

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