What are Fannie Mae Foreclosures?
Fannie Mae is a company supported by the federal government. Fannie Mae's mandate is to make property ownership more accessible for Americans. To meet this aim, Fannie Mae acts as a lending organization. If you are looking for a property, Fannie Mae foreclosures and financing options can be a good place to start. Since Fannie Mae is a lending institution, it must also deal with lenders who cannot repay their mortgage. This means that the organization is also a good source for finding discounted Fannie Mae foreclosure homes.
Fannie Mae Helps Homebuyers
Since the aim of Fannie Mae is to provide homeownership opportunities for more Americans, the company makes every effort to provide affordable homes and reasonable financing options. Fannie Mae purchases distressed homes and resells them as Fannie Mae foreclosed homes at significantly reduced prices. These government foreclosures are a great option for new homeowners and are a real boon for homeowners who cannot afford traditional real estate. Whether you buy federal homes from Fannie Mae or buy traditional property, Fannie Mae can help you with financing your purchase. If you are worried about buying a home because you have bad credit or a low income, Fannie Mae also has special programs that can help you secure a property.
Fannie Mae Offers Foreclosures
One of the most powerful ways that Fannie Mae can help you buy a home is by offering low-cost homes. As a lending institution, Fannie Mae is sometimes faced with homeowners who do not repay their home loan. When this happens, the homeowner's loan is in default and, to recoup the money lost on the loan, Fannie Mae will take over ownership of the property and resell it as a foreclosure in order to earn back the money lost on the loan. Since the primary aim is to reclaim the money quickly and since most homeowners do not owe the full amount of their property value in mortgages, most Fannie Mae foreclosures for sale are priced below market value. Discounts of 30% and even 50% are possible. Unlike bank foreclosures, distressed government properties often include great financing programs that can help make a distressed home affordable.
Many homebuyers confuse Fannie Mae and Freddie Mac. Fannie Mae is concerned with homeownership while Freddie Mac is an organization that insures mortgages. While both help Americans afford homes, Fannie Mae offers special programs directly for homeowners and offers home foreclosures for sale.
If you want to buy an affordable property, don't wait any longer. The sooner you buy your home, the sooner you can start enjoying equity and a long-term asset that can secure your financial future. BankForeclosuresSale.com can help. At BankForeclosuresSale.com, we offer the latest listings of Fannie Mae homes, government foreclosures, and other distressed properties for sale. We also offer an array of resources – compiled by real estate professionals – to put you on the right track to home ownership.