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 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

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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