To get the most of their money Fannie and Freddie Mac are trying to sell over 100,000 foreclosure homes. You can get prices on houses that existed on 2004. You may be able to pick up these homes by putting down 5% as the down payment. You may even be able to get a warranty on the house provided by special financing. This can be the best time to buy a home for first timers who have never purchased a home ever. Freddie Mac has these foreclosed homes for as much as $100k cheaper. It may be true that some of these foreclosed homes are less desirable. This is perfect for those learning how to rebuild your credit. Don’t get it confused because some of these houses are still really nice.
All the houses in that neighborhood will be worth less because of these types of foreclosures. It will be a lot more harder to find these Freddic Mac houses, but they are sold so fast that you need to hop on it. Because they are foreclosed properties, you don’t need a large down payment. Some of these foreclosures are fixer uppers so you will be able to get a second mortgage for renovations. This is perfect for you to get a credit score mortgage loan.
Unlike other foreclosed homes you are able to see the home inside and out. Then after the house is picked out, go get your credit score home loans. Once you find the home of your dreams, you can relax and know that there will be less bidders on the property.
Good luck with your search on finding your dream home. Shoot me an email and I’ll respond right away.
