Punxsuntawney Phil Sees Shadow...FNMA Announces Assistance On their Foreclosures...

While we may be heading for 6 more weeks of winter since Punxsutawney Phil saw his shadow this morning, FNMA (Fannie Mae) may have warmed things up with their announcement of providing up to 3.5% in seller contributions on their HomePath Properties. Last Thursday, FNMA announced that people purchasing a FNMA owned HomePath property will receive up to 3.5% of the SALES PRICE to be used towards closing cost or their choice of appliances. This offer is available to any owner-occupant who closes on the purchase no later than May 1, 2010. “Attracting qualified buyers to the market and reducing the inventory of vacant homes is critical to stabilizing neighborhoods and helping the market to recover. Many families are taking advantage of the federal tax credit to buy a new home so this is a great time for FNMA to offer some additional help” said Terry Edwards, Executive Vice President of Credit Portfolio Management. Properties eligible for this incentive are listed on www.HomePath.com and most listing include detailed property descriptions, photographs, community and school information and more. For further information, go to www.HomePath.com or contact FNMA directly at 1-800-732-6643.