3.5% Paid to the Buyer plus $8000 tax credit

Rhonda Buckner, Ocala’s Short sales specialist, keeps you in the know of what is happening. Great news for buyers. If you are looking to buy, now you have a bonus. If you buy a foreclosure form Homepath or Fannie Mae they will pay you a 3.5% kick back.

Fannie Mae will now cover the closing costs on purchases of its REO homes – an incentive the GSE hopes will help it pare down a bloated supply of repossessed foreclosed properties.

The nation’s largest mortgage financier has announced a temporary seller-assistance program under which people purchasing a property through HomePath, Fannie Mae’s REO disposition operation, will receive up to 3.5 percent of the final sales price, which can be applied toward closing costs or used to purchase appliances for their new home.

The offer is available to any owner-occupant who closes on the purchase of a property listed on HomePath.com before May 1, 2010, the company said. In addition, many Fanniehousing bust Buy A Fannie Mae REO…Receive 3.5% Kick Back…Closing Costs Paid. Mae-owned properties are eligible for special HomePath
Mortgage and HomePath Renovation Mortgage financing, with as little as 3 percent down.

Recent data from Fannie Mae show an increase in the acquisition of foreclosed properties and an escalating rate of seriously delinquent loans, which means even larger volumes of REOs could be coming down the pipeline.

Ocala has many foreclosed properties. Call Rhonda, Ocala’s short sale specialist to help you know what to to to qualify, 352-266-2637