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How much lower can you offer as a purchase price vs the listing price on a Fannie Mae HOMEPATH house. It is foreclosed. Many houses in neighborhood on the market, many foreclosures in the area. We live in Winston Salem, NC. Obviously we want to buy the house for as little as possible.
Hi! I am in desperate need of an answer! My local county defines a dwelling unit as a structure that has sleeping quarters, sanitary facilities, and cooking. Fannie Mae, as far as I can tell, defines 'dwelling unit' as a 'residential structure' but then gives no definition I can find as to what the...
What has caused it? What can be done to fix it? In order to answer these questions, we need to first understand what the problem is. Here's my attempt to explain the mortgage crisis and its causes. First, it must be understood that it is the job of banks to lend money. It is through...
Hello, I'm trying to buy a condo in California and was told by the seller's real estate agent that I had to put at least 20% down. He said this was a Fannie Mae requirement because the Home Owners Association had very low reserves -- many owners were not current on their monthly payments. There...
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