Selling agents representing owner-occupants will receive a $1,500 bonus.’ Nice. The offer runs from Sept. 23, and must close by December 31, 2010 – Fall Fire Sale

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Hamilton Mill Dacula Ga – Home UPdate – Press release-

Fannie Mae wants you to buy…Buy…BUY…an will Pay Your Agent to Sell You a Home ASAP

So it seems Fannie Mae is doing all it can to unload its massive quantities of REO inventory.  When I say massive, I mean the 129,310 single family bank-owned properties — or REOs, as they’re called — it held at the end of Q2, which is more than twice what it was carrying at the end of Q2 2009.  As I noted in a Tweet yesterday, every time home prices drop just 1%, the value of all government-sponsored enterprise (GSE) REOs fall by $287 million.  No surprise, then that Fannie would want to get rid of its REO as fast as possible, especially as we saw bank repossessions hit a new record in August and home prices are again weakening. How does Fannie do it? It’s renewing an expired program that gives buyers of its REOs ‘3.5% of the final sales price that can be used toward closing cost assistance, including a home warranty.’  And if that’s not enough, Fannie is now getting those crash-weary real estate agents on its side as well. ‘Selling agents representing owner-occupants will receive a $1,500 bonus.’ Nice. The offer runs from Sept. 23, ‘and must close by December 31, 2010,’ so this is a pretty short deal.

‘We continue to look for ways to stabilize neighborhoods and offer incentives to qualified buyers who will occupy these properties over the long-term and help support their communities,’ writes Terry Edwards, Executive VP of Fannie’s Credit Portfolio Management in the press release.  So let’s just do a little more math…in the first half of 2010 Fannie sold around 87,000 REOs.  If it sells half that, because it’s three months not six, then Fannie will be paying out a little over $65 million just to real estate agents, not to mention the assistance back to the buyers in the 3.5% back.  I’m thinking Fannie is really worried about rising REO inventory.
I’ll show you how to short sale your property and never pay the bank another penny.
My TEAM and I will Help show you how to Find a great Short Sale property and get a FREE Short Sale Foreclosure House List

Send me an e-mail at rlorans@gmail.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (770) 866-2561.

Discover how other sellers successfully completed a short sale and request a free consultation.
Thinking about a loan modification? Our Atlanta Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender.

Thanks for reading this, Roland Lorans.

Roland is a Real Estate Agent at Better Home and Gardens Real Estate Metro Brokers .

Phone: (770) 866-2561 or 404-843-2500 rlorans@gmail.com.

View My homes for sale at HelpMeSaveMyHome.

Roland Lorans specializes in Loan modification assistance and Home Short Sales in Hamilton Mill Dacula, Buford, Suwanee, Alpharetta GA and Metro Atlanta Georgia

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Roland Lorans TEAM Keller Williams Real Estate Atlanta Partners We are Realtors that do Short Sales and Help Save Houses 770-866-2561
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