Fannie Mae announced late last week their new closing incentive for buyers. Homebuyers who plan to live in the house can receive up to 3.5 percent of the final sales price that can be used toward closing costs, including a home warranty.
Eligible offers must be submitted on or after Sept. 23, 2010, and must close by Dec. 31, 2010. The sale must also close within 60 days of offer acceptance.
“More than 87,000 families purchased HomePath properties in the first half of 2010 – nearly double the number of Fannie Mae foreclosed properties sold in the first half of 2009,” says Terry Edwards, executive vice president of Fannie Mae’s Credit Portfolio Management. “We continue to look for ways to stabilize neighborhoods and offer incentives to qualified buyers.”
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