23.11.2015

Buying a fannie mae foreclosed house lot,hunter 60 grant park ceiling fan,fans zone digitalb 3d - 2016 Feature

Author: admin  //  Category: Ceiling Fan Deals


Have you spotted a Fannie Mae foreclosure in the MLS that looks like it could be “the one”?
First, making an offer and negotiating on a Fannie Mae foreclosure is not going to feel like any other real estate transaction you’ve ever experienced. Pursuant to Section 28 of the Real Estate Purchase Addendum, this document is subject to all the terms and conditions set forth in the Real Estate Purchase Addendum. While that sounds like an innocuous clause, their addendum restates all the important terms in the agreement. Second, you think you are going to be able to have the standard home inspection when you buy a foreclosure through Homepath, and even though you included a home inspection addendum with your offer and they tell you your offer has been accepted, they take out the home inspection addendum and throw it away without telling you. You would never get away with this in the private sector, but Fannie Mae can sell you a foreclosure that is garbage and then tell you have no remedy.
I could go on and on about a dozen other major issues (and ridiculous clauses) in this process, but I think I’ve said enough.
With all the foreclosures and short sales on the market, it is wonderful to find a home that is in perfect move-in condition. If you are one of the many homeowners facing tough choices in today’s economy, we understand.


The government-sponsored enterprise will also give qualified home buyers 3.5% of the final sales price that can be used toward the closing cost, including home warranty. A record high numbers of homeowners getting foreclosure notices of default it is putting even more Americans at risk of facing foreclosure  rescue scams. Everyone wants the glory days to return…when they had hundreds of thousands of dollars of paper equity in their homes. Facing a foreclosure is a scary thing, but there are things you should do – and shouldn’t do – to avoid making the situation worse.
Buying a foreclosure from Fannie Mae through their Homepath website is a Buyer Beware nightmare. When you submit an offer with the standard paperwork as required by their Homepath site, you eventually find out that they throw out almost all the important language in your offer. In other words, they tell you they accept your offer (once you’ve reached an agreement on price), but they really have not, because they shove an addendum down your throat that changes the terms of the transaction. You will have to pour through almost three dozen pages of tiny print to figure out that your home inspection addendum is missing. We know that looking for assistance with your mortgage and deciding where to go for help can be confusing and frustrating.


Homeowners who fall behind on mortgage payments need to tread carefully when seeking assistance, since foreclosure rescue scams come in many guises.
Treasury Department has approved CalHFA’s plan to use nearly $700 million in federal funding to help  California families struggling to pay their mortgages.
We don’t have time to go through their 23 page addendum, but believe me, it looks nothing like the offer you wanted to make, and the terms are nothing less than dictatorial. When you contact them or your Realtor asks what happened to it, they tell you that they don’t allow you to have a home inspection.
If you can sidestep a nightmare, then I’ve done my job, and your life will be better for it. So what do you need to know in 500 words or less about a Fannie Mae Foreclosure and their Homepath system?



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