homepath.com - buying a Fannie foreclosures that did not sell on homepath.com or MLS ?
Who do I contact if I want to buy a foreclosed home listed on homepath.com that did not sell via the website or the MLS?... " it goes back to Fannie Mae"...
Posted by Bill M JR
from CA
35 Answers
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I found some property that I found out was a foreclosure from the original owner. I found the property in all different foreclosure sites on the web also. I contacted Fannie Mae and they at first could not find the listing. I did go to a real estate agent for further help, and she was told that it was not posted yet from an agent for Fannie Mae. I checked the local tax collector office and the property is still in the original owners name. ?What more can you help with? Or can you help at all!
Answered by Valerie
Thu Aug 4th 2011 at 4:12pm
Hi Valerie,
You can reach out to a local agent that could help you determine the status of this property. For a list of agents in your area that have access to foreclosure information you can go to http://www.foreclosureradar.com/marketplace Michelle
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I am currently looking for a house on Homepath website. Why are some available for Homepath financing and some not. Are there issues with the ones they will not finance.
Answered by Joe
Tue Nov 15th 2011 at 10:23am
Hi Joe,
The property may be in a state of disrepair or may not have a kitchen or heating etc. I know that mobile/manufactured homes are often not included in the homepath financing. Michelle
Michelle,
Thanks for your reply. This is a mobile home and lot seems to be in good shape. I see they finance other such properties however this is going to auction next month been for sale a long time. Fannie mae is asking $90,000 don't know how cheap they sell them once they send them to auction with no opening bid. Joe
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is it put back on thye market? How soon is it put back on the market
Answered by vspenson
Tue Nov 15th 2011 at 8:01pm
Hi Vspenson,
It will stay in the market until sold. They often run "specials" if it closes by a certain date but if it doesn't sell it stays listed. Occasionally you will see a property reassigned to a different real estate agent and it may appear as a new listing when they repost the information with the new agent. Michelle
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I am interested in the house on Beechwood dr in Statesville NC. Please let me know.
Answered by Kathy williams
Fri Oct 7th 2011 at 1:08pm
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My question is my husband and have have not perfect credit but it is in the 450-550 range and we never brought a home all ways rented our children are all grown and families of there own how would we go about buying a Fannie Mae home for first time buyers we did file bankruptcy 6yrs ago we are both collecting S.S. what are our options do we stand a chance of owning our own home we are in our late 50;s we have seen homes for 30.000.00 85.000.00 please help us
Answered by vanessa
Fri Jun 24th 2011 at 12:04pm
Hi Vanessa,
You will want to reach out to a mortgage broker in your area that can take a look at your current situation and tell you exactly what you would need to do to work on getting a loan approval. You may have to work on your credit or wait a little longer depending on the circumstance surrounding your BK. Michelle
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I want to buy a indipent house which is for sale and my agent showed me and she said that hoiuse to be occupied by purchaser ( owner)
but I want to rent it for my our expenses. please reply us as soon as possible so thai i can give my best offer nad get this house, pls note that that i am the firdty buyer.
thanks
HUSSAIN AND SHABANA
Answered by Hussain
Tue Oct 11th 2011 at 11:31am
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i have found a foreclosed house in piedmont al on main st that is elgible for home path lending. please tell me how to go about purchasing,or making an offer on this house.
Answered by rita ferguson
Sun Mar 6th 2011 at 3:04pm
Hi Rita,
Try homepath.com or auction.com. If you do not see the property on either of these sites then you will want to contact a local real estate professional that can help you locate the listing agent. Both sites listed above will have instructions on how to buy off of the sites. Michelle
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LOOKING
FOR A 4 BEDROOM 2 BATH HOUSE
Answered by Brandon love
Mon Nov 28th 2011 at 7:51am
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I am very interested in the ml listing1214036 it is in South Carolina at 609 Vista Drive Murrels Inlet 27A please contact me on what i need to do ,to buy this property.
Answered by Kimberly Carenbauer
Thu Sep 6th 2012 at 2:31pm
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I have a few questions. I did talk to a lender 6 months back and was told I need to work on my credit score. At the time it was 560 the lowest score now my lowest score is 603. He said I would need a 640 for a loan. My question is would I be considered a first time buyer if I have. Not owned a home in 7 years? Would I be able to get one of these homes for like 30 k since I'm on sad and my income is so little? Thank uou
Answered by jennifer
Fri Aug 19th 2011 at 4:31pm
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LOOKING FOR HOME IN CROOKED RIVER , OR.
Answered by CHARLES COAD
Thu Aug 18th 2011 at 11:05am
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I'm interested buying condo at desert sands villas at las vegas the address is 850 rhinegold wy las vegas nv 89110 please call me at 702-408-0986.
Answered by cecilia wheeler
Mon May 9th 2011 at 5:16pm
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I would like to know if there is a guideline on a Freddie Mac owned property listed by a realtor with respect to minimum offer. I am
interested in 1 Chilton Ave. Kingston, MA 02364
Answered by Anne
Sun Oct 23rd 2011 at 2:01pm
Hi Anne,
When a lender/investor (in this case Freddie Mac) lists a property they have usually done extensive valuation analysis. Based on the one or more broker price opinions they have listed the property at fair market value. In the old days most lenders would consider an offer within 10% of the asking price. In today's market we hear that most will counter back at the full list price. If the property is on the market for more than a couple of weeks they MAY consider a lower offer. If you are planning on submitting a very low offer be prepared for a full price counter offer. Michelle
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There is a Homepath property that I am very interested in. The property was previously offered under the Homepath Renovation plan. It has now been removed. The property has also been lowered substantially and on the market for over 160 days. I am still very interested in the property and working on obtaining pre-approval for a loan. Do you have any insight as to why a property (not mobile home) would not offer this particular program. Perhaps another renovation program could be obtained. Thank you for any information.
Answered by Cathelina Barcelona
Fri Nov 23rd 2012 at 6:31am
Hi Cathelina,
Check with a lender/mortgage broker in your area. The property may qualify for a FHA 403k renovation loan. There may be other loan programs in your area as well. A good mortgage broker in this day and age is worth their weight in gold. Michelle
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To whom it may concern; I Am interested in a property located at 344 foster rd. in north versailes pa. 15137. If you can please call me at (412)290-0302 I would gladly appreciate it. Thank you. Robert Buckholtz.
Answered by Robert buckholtsz
Wed Apr 25th 2012 at 7:53pm
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Hello, I'm requesting about property in Detroit, mich on 3905 Wabash st. and seldom, how much you asking for it or maybe finance
Answered by Dwayne Hardwick
Sun Jul 10th 2011 at 4:02pm
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when I put a bid in after 15 days as an Investor, can I bid Lower than asking price? especially if house needs repair before anyone can move in?
Answered by Leland zavadill
Thu May 10th 2012 at 5:09pm
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Why do none of the information pages/ flyers about Homepath say that this program is only for non- homeowners. I'm trying to submit a bid on a better house than that which I live in, and I'm told that if I own a home, I'm an investor. I'm trying to buy a better house-- how does that make me an investor? I plan to live there, and signed the paper saying so. Please fix the promotional materials and make that clear. I missed 2 days of work so that I could get everything together and in on time for the "first look." The listing agent knew that I owned a home and did not tell my agent until today (day 15) that my offer would not be submitted.
Answered by mary erjavec
Fri Apr 1st 2011 at 2:24pm
I was not aware that the homepath program was for first time homebuyers and not move up buyers. Thanks for sharing. Michelle
If Homepath is only for first time buyers, how can they advertise that investors can buy and get money for rehabbing?
Where can I go to get the straight facts about Homepath? I am wasting a lot of time. cathie
Hi Cathie,
If you go to the www.HomePath.com site they have a tab for their financing options. I believe that there was some confusion regarding the offer. Fannie Mae will often look at owner occupied offers prior to investors offers. I have heard from many agents that they will not look at offers from investors until after the property has been on the market for 2 weeks. Michelle
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Thank you Michelle for your response. Unfortunately the listing agent indicated they will only take an FHA rehab. I have a realtor who doesn't know much about this property but neither did the lender who is actually a HomePath listed representative. After many attempts of trying to get the house the listing agent indicated they were going to send the house to auction. We check to see if there were disclosures and they were none. Many attempts were made to contact the listing agent who differ responded until lately where there have been multiple parties to have inquired about the property. I know this is very long but it the whole situation seems very bizarre even with the Lender department to have worked with every chance then again maybe not so bizarre.. My question now is, can loo an integrated buyer purchase a house that is going up for auction. I have qualified for a loan over the asking price.
By the way, the property will only qualify for cash or FHA rehab even though the listing office said the house needs a new roof and plumbing repairs. I already have an FHA and woods have to refi to conventional. Realtor, lender are baffled...seems the seller is determined too stonewall any attempt of buying this house.
Answered by Cathelina Barcelona
Tue Dec 11th 2012 at 1:40am
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Thank you Michelle for your response. Unfortunately the listing agent indicated they will only take an FHA rehab. I have a realtor who doesn't know much about this property but neither did the lender who is actually a HomePath listed representative. After many attempts of trying to get the house the listing agent indicated they were going to send the house
to auction. We check to see if there were disclosures and they were none. Many attempts were made to contact the listing agent who finally responded when we had several mutual parties
about the property. I know this is very long but thethe whole situation seems very bizarre even with the Lender department to have worked with Homepath then again maybe not so bizarre.. My question now is, can I as an interestedinterested buyer purchase a house that is going up for auction. I have qualified for a loan over the asking price.
By the way, the property will only qualify for cash or FHA rehab even though the listing office said the house needs a new roof and plumbing repairs. I already have an FHA and wouldwould have to refi to conventional. Realtor, lender are baffled...seems the seller is determined too stonewall any attempt of buying this house. Thanks
Answered by Cathelina Barcelona
Tue Dec 11th 2012 at 1:52am
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Thank you Michelle for your response. Unfortunately the listing agent indicated they will only take an FHA rehab. I have a realtor who doesn't know much about this property but neither did the lender who is actually a HomePath listed representative. After many attempts of trying to get the house the listing agent indicated they were going to send the house
to auction. We check to see if there were disclosures and they were none. Many attempts were made to contact the listing agent who finally responded when we had several mutual parties
about the property. I know this is very long but thethe whole situation seems very bizarre even with the Lender department to have worked with Homepath then again maybe not so bizarre.. My question now is, can I as an interestedinterested buyer purchase a house that is going up for auction. I have qualified for a loan over the asking price.
By the way, the property will only qualify for cash or FHA rehab even though the listing office said the house needs a new roof and plumbing repairs. I already have an FHA and wouldwould have to refi to conventional. Realtor, lender are baffled...seems the seller is determined too stonewall any attempt of buying this house. Thanks
Answered by Cathelina Barcelona
Tue Dec 11th 2012 at 1:52am
0
708 Highland Ave
Covington, KY 41011
Answered by Greg Grote
Fri Apr 8th 2011 at 12:31pm
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have to relocate to another state , already own a home , can i use fannie mae to buy a forclosed home cant afford an expensive home.
Answered by JL
Mon Dec 17th 2012 at 9:07pm
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I am a Canadian National can I buy a property in this program
Answered by Amir Dhanjee
Sun Sep 18th 2011 at 12:15pm
Hi Amir,
You can absolutely sign up for a subscription to ForeclosureRadar. We do have one glitch in our registration process for Canadians in that our system does not recognize your zip code so you would need to enter a US zip code simply for registration purposes. You are also welcome to contact support@foreclosureradar.com and we would be happy to help you get registered. Michelle
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Hi Leland,
There is no law that says you cannot submit a lower bid than the asking price. We have recently seen several properties in need of repair that the lender has donated to a non-profit. So realize that you may have some non-traditional competition and if the offer is too low the lender may consider donating the property.
Answered by Michelle
Tue May 22nd 2012 at 2:17pm
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I am a senior that wants to downsize and move from NY state to SC where mychildren are living now, since family and friends have move to a warmer climate and I do not want to deal with snow any more, credit is good, want brick ranch 3/2 near 29466, will like to take advantage of FannyMae resources available, price range $40,000/$70,000.
Answered by myriam Brown
Sat Nov 5th 2011 at 5:10am
Hi Myriam,
Have your children locate a Realtor in the area that can assist you. You can also see properties that are being sold by Fannie Mae on their site www.homepath.com. Michelle
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im looking for newer homes in virginia that are forclosed around norfolk area va beach
Answered by mike barr
Sat Jun 11th 2011 at 9:47am
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Hi Bill,
Properties that are listed on Homepath.com are properties that are already owned by Fannie Mae following a trustee sale. If a property did not sell and was formerly listed on the homepath website it may have been included in a bulk sale and the corresponding deed will follow. You may want to reach out to the previous listing agent that had the assignment to see if they have any additional information.
Answered by Michelle
Mon Jan 3rd 2011 at 12:43pm
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A listing agent for a Fannie Mae foreclosure property helped someone buy the property then the buyer did a quit claim deed for $1 back to the listing agent after a few months. Is this legal?
Answered by Lisa
Mon Jun 13th 2011 at 6:01pm
HI Lisa,
Although Fannie Mae may be interested in what this agent is doing as a their representative there is nothing illegal about a listing agent being granted the property months later. There could be some agreement between Fannie Mae and the listing agent that prohibits them from purchasing or taking title to the property (I am not aware of any such agreement) but that would require an investigation on behalf of Fannie Mae. Michelle
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HOME RUM REAL ESTATE CO WANTS TO SUBMIT OFFER FOR 2143 OAKMONT DR. RIVIERA BEACH FL 33404
Answered by D.BARBARA HIBERT
Sat Oct 13th 2012 at 12:43pm
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i would like to know what happens to property that did not sell by
time listed.
Answered by vspenson
Tue Nov 15th 2011 at 8:00pm
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Looking at a mobile home and lot seems to be in good shape. I see they finance other such properties however this is going to auction next month been for sale a long time. Fannie mae is asking $90,000 don't know how cheap they sell them once they send them to auction with no opening bid any ideas
.
Answered by Joe
Thu Nov 17th 2011 at 12:16pm
Hi Joe,
Usually the auction price will have a reserve which can be near the current listing price. Mobile homes are really tough to finance. If Fannie Mae is offering HomePath financing that is a huge selling point. Michelle
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im a first time home buyer with 5 kids my wife and i both wrk and have been on our jobs for a while. Both of our credit ratings are bad. but we would love to stop paying rent and give our children something they deserve a home. Does anyone have any advice?
Answered by Brandon love
Mon Nov 28th 2011 at 7:54am
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i'm interested in a fannie mae owned property that i'm told went to auction . how do i find out if it sold at auction or not ? also if it don't sell will it go back to the same realtor ? lastly, what is a block sale in refernce to auctions ? thank you so much if you can answer any of this.
Answered by jeff kocur
Sun Jul 10th 2011 at 1:23pm
HI Jeff,
If you are a subscriber to ForeclosureRadar you can look up the auction results typically the same day. If it was a recent sale you could contact the trustee (the phone number and TS number appear on the foreclosure notices) or your could check public records to see if the trustees deed was recorded. A trustees deed is typically recorded a couple of weeks after a sale. The trustees deed will show the transfer value which is the winning bid. Once the property becomes bank owned (or owned by Fannie Mae) they will need to evict any occupants and prepare the property for sale. This means that they will typically assign the property to a local agent to act on their behalf. On occasion Fannie Mae will sell off a group of properties in a bulk sale. This would mean that these properties would not be owned by someone other than Fannie Mae and they may sell the properties or rent them. A local agent should be able to provide you with additional insight. Michelle
