type of carpet and paint for fannie mae foreclosures

#Type of carpet and paint for fannie mae foreclosures series

Renovation Costs limited to 20% of the “as repaired or completed” value or $30,000, whichever is less, and renovations must be completed within 3 months of closing.Renovation funds are borrowed as part of the purchase financing and held in escrow until the renovations are completed.Down payment (at least 3 percent) can be funded by your own savings a gift a grant or a loan from a nonprofit, state or local government, or employer.Low down payment and flexible mortgage terms (fixed-rate or adjustable-rate).Financing to fund both your purchase and light renovation.Also eligible for HomePath Renovation Mortgage (see details below) (Primary Residence Only)Īvailable only on homes you make your primary residence and offers these benefits:.Down payment (at least 3 percent) can be funded by your own savings a gift a grant or a loan from a nonprofit organization, state or local government, or employer (2% Seller Maximum).Available to both owner occupiers and investors (Primary, Secondary, Investment).

You may qualify even if your credit is less than perfect.

Low down payment and flexible mortgage terms (fixed-rate, adjustable-rate, or interest-only).

Only those properties listed at the following web site with the HomePath logo qualify for this program. All FNMA REO properties are not eligible for HomePath financing. Give me a call if you want to discuss strategies for strengthening your financial future in the weeks and months ahead.įannie Mae has just released a new program called HomePath to help consumers buy and finance many of their REO properties. The few minutes you spend reading them will open your eyes to what very few experts truly understand.Īs your trusted advisor, I’m committed to doing whatever I can to help you understand what the current economic situation means for you going forward in 2009. I’ll attach basic stories behind the crisis for your review, to help you better understand what happened, why, and where we’re going from here. It’s important to me to stay on the leading edge as a professional, and when I saw these resources, I wanted to make them available to you as well. The content for these articles comes from various services that I have invested in to stay up to date and educated, in order to always best serve as your trusted advisor.

#Type of carpet and paint for fannie mae foreclosures series

That’s why I’m excited to tell you about a series of articles I’m creating to put an end to the confusion once and for all! In these easy-to-understand articles, with help from many resources, I explain in layman’s terms exactly what caused the current financial crisis, what the almost daily news reports really mean – and what to be watching for in the near future. But many of the reporters and so-called pundits don’t understand what really happened, what’s happening today…and what may happen next. My real estate investing lawyer, Matt Griffith, hit me up last night about a new Fannie Mae program that allows investors to get financing on some of their REO properties… This comes from a local mortgage broker, Mickey Brooks (317 218.0283), who has the contacts to get deals done in a couple of states nationwide, so give him a call, and if he can’t help you, he can prolly refer you to someone who can!Īs we enter 2009, the crisis in the financial markets seems to be the top story on every news channel.