(Closed) Put an offer in on a foreclosure yesterday…

posted 8 years ago in Home
Post # 17
Member
11268 posts
Sugar Beekeeper
  • Wedding: April 2012

forgive my ignorance but what is a “fannie mae” house?  this is the first i’ve heard of it.

 

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@Roe:  good luck and keep us posted.

Post # 18
Member
1850 posts
Buzzing bee
  • Wedding: March 2012

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@mypinkshoes:  It’s just a special type of foreclosure. It gives the option for people who are buying it as a residence 15 days to bid before they open the bidding process to investors. It also gives you the option to buy a home for 3% down and no mortgage insurance if you go through specific lenders.

Post # 20
Member
1476 posts
Bumble bee
  • Wedding: May 2012

Congratulations! We live near San Francisco, and it took us a year to get our foreclosure house. It’s very competative around here. Good luck!!!

Post # 21
Member
1476 posts
Bumble bee
  • Wedding: May 2012

Congratulations! We live near San Francisco, and it took us a year to get our foreclosure house. It’s very competative around here. We put in a lot of offers, but got outbid or something else happened. Good luck!!!

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