Fannie Mae Foreclosures

A Federal National Mortgage Association (Fannie Mae) foreclosure doesn't occur without great effort to avoid it. The congressionally-chartered Fannie Mae corporation is in the business of buying mortgages from lenders and reselling them as securities on the secondary mortgage market. Although Fannie Mae doesn't lend money directly to homebuyers, it provides a constant source of mortgage funds by investing in the mortgages lenders create. Fannie Mae monitors the loans it acquires to quickly identify when a borrower begins to have difficulty. If a loan becomes delinquent, Fannie Mae helps the lender determine the most effective path for the borrower to cure the delinquent loan. Options include allowing the borrower to make up the past due amount over a longer time period or loan modifications that help the borrower deal with a temporary loss of income by extending the loan's term. Approximately 75-80% of loans that Fannie Mae has brought current through modifications over the past three years are still performing.

For borrowers who simply can't keep up with payments, Fannie Mae's Loss Mitigation Team works aggressively to help lenders provide borrowers with other financial relief options such as a pre-foreclosure property sale or a Deed-in-lieu (Fannie Mae accepts the deed to the property in lieu of the mortgage loan payment). Fannie Mae considers foreclosure a course of last resort because the process is costly, time-consuming, and a relatively inefficient means of transferring property to satisfy mortgage debt.

Investing in Home Foreclosures

Whether you're a novice or a professional "rehabber," who fixes up foreclosed properties, you'll need to stay on top to come out ahead. We've gathered resources and culled information from varied sources to bring you timely information on Home Foreclosure Prices, and Financing Foreclosure Purchases. Why Buy Foreclosed Homes, you might ask. There are plenty of solid, smart reasons and we'll share them with you, along with buying foreclosed homes tips, and resources on Home Foreclosure Listings.