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February 10, 2011
Real estate owned by banks refers to property that has been repossessed by mortgage lenders through loan default. It can be advantageous to seek out bank owned foreclosures because these properties are often sold below market value.
Real estate owned by banks is no different than properties listed for sale by private sellers. Banks list properties through local realtors and buyers submit offers to the bank. The majority of lenders require buyers to prequalify for lending prior to placing offers on bank foreclosures.
November 24, 2010
Before implementing real estate investing strategies, investors should have a solid plan in place. Doing so can help investors determine which types of properties are best suited for their investing style and the goals they want to achieve.
Planning the types of real estate investing strategies requires research and networking with investors who have achieved success. One place to locate other investors is through real estate clubs or online networking groups. Networking with others can save hours of time and lessen the potential of gathering information from those more interested in selling their investing secrets instead of helping others succeed.
October 29, 2010
Fannie Mae Homepath is government-sponsored program offering foreclosure properties for sale at discounted prices. When properties are financed through select lenders, buyers can obtain incentives and special financing options such as low interest and minimal down payments.
Fannie Mae Homepath offers a variety of homes for sale including single family residences, condos, apartments, and duplexes. Properties consist of foreclosure homes which were repossessed by Fannie Mae.
October 21, 2010
Fannie Mae Homepath Properties can be a great choice for individual buyers and real estate investors. These homes are offered at discounted prices and can be combined with public grants, along with special financing options and low down payment requirements.
Most Fannie Mae Homepath properties are priced below market value. These homes consist of repossessed foreclosure properties that did not sell at public auction and are now owned by Fannie Mae. Buyers can select from a list of nationwide properties or create a personal wish list which allows them to receive notification when the type of property they desire becomes available.
October 06, 2010
Fannie Mae Homepath properties are quickly moving to the forefront of homes sold due to discounted prices and special financing options. According to Terry Edwards, Executive Vice President of Fannie Mae's Credit Portfolio Management, "More than 87,000 families have purchased HomePath properties in the first half of 2010."
Fannie Mae Homepath properties encompass a mix of foreclosure homes scattered across the nation. Prices start as low as $5,000 for single family residences, but the average home price hovers around $139,000 for a two bedroom, one bath home.