fanne mae is the one i am looking at .....any info
2006-10-22 09:31:26 · 5 answers · asked by JT 2 in Business & Finance ➔ Renting & Real Estate
Make sure you can get a clear title to the house.
2006-10-22 09:33:28 · answer #1 · answered by avery 6 · 0⤊ 0⤋
There are lot of things to look for when buying a forclosed home. I've found when I purchase rental properties, that Foreclosure.com has numerous listings as well as informative articles and tools to help guide you through the foreclosure buying process. Fannie Mae is really only one source so if you want more homes to choose from i would go with an online listing service that specializes in Foreclosures.
2006-10-25 03:05:19 · answer #2 · answered by Anonymous · 0⤊ 0⤋
after you bid, hire an attorney and have him do a title search with a title company. you will want to find out all the title issues with your attorney before you buy the property. there could be so many unpaid taxes, mortgages, liens on the property that it may or may not be a wise decision to buy the property. . you need to know what you are doing with foreclosed property.
2006-10-22 09:55:03 · answer #3 · answered by tom 1 · 0⤊ 0⤋
You need to know what the government says since it was a government guaranteed loan. Here are some links that will help you.
Foreclosure requirement by HUD guaranteed loans: http://www.hudclips.org/sub_nonhud/cgi/nph-brs.cgi?d=MLET&s1=90-$%5Bno%5D&op1=AND&SECT1=TXTHLB&SECT5=MLET&p=1&r=39&f=G
Fannie Mae: http://www.fanniemae.com/index.jhtml
Any real estate broker can help you with it. We closed one last month.
Buena Suerte
2006-10-22 09:39:45 · answer #4 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋
make sure that the property is a clean title and plain bank properties. some foreclose property has cases. and if it is a bank property then it is good because the title is for sure genuine title.
2006-10-26 04:40:23 · answer #5 · answered by picturesque 3 · 0⤊ 0⤋