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Buy A Fannie Mae Foreclosure, Home Get a 3.5% Incentive

February 10, 2010

Fannie Mae has a special offer for homes for sale on its Home Path List.  In addition to the first time home buyer credit (up to $8,000) which you may qualify to receive if you haven’t owned a home for that past 3 years, Fannie Mae is offering an additional 3.5% in closing cost assistance for anyone who purchases one of these homes of their Foreclosed homes.

This is a fantastice opportunity for they buyer who can find a home to meet their needs, and who will be willing to do a some work to the home once purchased.

To find out if this is a good plan for you, call or email me:

Kathleen Sheridan, Weichert, Realtors – McCarthy Associates, 6901 Germantown Ave, Philadelphia PA 19119, Office: 215-843-1414 ext 230. Direct Contact:  215-740-3320, ksheridanrealtor@gmail.com

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3 Comments leave one →
  1. kris baxter permalink
    March 17, 2010 8:33 pm

    buyer beware. this program is a joke. i was cheated out of $2265.00 of the money offered because I opted for the appliances. they will not allow you to close until the appliances are delivered. I could not go back to modify my rate I was locked in. What a terrible program and system.

    • March 18, 2010 9:07 am

      I appreciate your comment. I am sorry to hear that you had a bad experience. Fannie Mae and other bank owned foreclosure properties are managed by companies that are very strict about the conditions of their agreements. Buyer’s need to find an experienced agent to represent them, one who will go over the terms of the agreement with them so that there will be no misunderstanding.

    • March 18, 2010 9:19 am

      Kris, Thanks for your comment. I am sorry to hear about your experience. The downside to buying foreclosure properties is that the companies that manage them have no flexibility.

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