What Are Fannie Mae Foreclosures?
Fannie Mae itself provides some mortgage loans. A Fannie Mae foreclosure refers to a property that was seized after a borrower failed to pay off the mortgage on that property to Fannie Mae, the lender. In this situation, Fannie Mae takes over ownership of the property and acts to sell the property to a third party, usually at a lower price in order to complete the sale quickly and to recuperate the money lost on the loan. As such, Fannie Mae foreclosures are a good opportunity to buy a home at a low cost.
- What Is Foreclosure?
- What Are the Alternatives to a Foreclosure?
- How Do You Buy a Fannie Mae Foreclosure?
- How Can I Prevent My Loan from Going into Foreclosure?
- What Are the Different Types of Foreclosure?
- What Are the Steps in a Pre-Foreclosure Procedure?
- How Many Late Payments Can I Make Before the Bank Starts Foreclosure?
- What Are the Steps in a Judicial Foreclosure Procedure?
- What Are the Steps in a Non-Judicial Foreclosure Procedure?
- What Is Redemption?
- How Does a Foreclosure Affect My Credit and My Future Options?