What Are Fannie Mae Foreclosures?
For years the group Fannie Mae has been giving assistance to families who would like to have their own home. Their assistance comes in form of loans to prospective individuals that meet their requirements. A few of these individuals end up unable to complete their loan payments. At this point Fannie Mae repossesses the properties and declares it foreclosed. Fannie Mae foreclosures are then resold to recover the unpaid loans. Fannie Mae would prefer foreclosed properties to be owned as soon as possible causing prices to be way below market value. Plus unlike other foreclosures, Fannie Mae sweetens the deal by offering a financing scheme that will even make the purchase more attractive.
