Fannie Mae and Freddie Mac - Who ARE these people? - 02/27/12 05:32 PM
 
Sounds like they could be long lost relatives from the Deep South, however, the phrase “show me the money” is a more accurate descriptor.  Fannie Mae is the way we pronounce the acronym for the Federal National Mortgage Association:  FNMA
 
Here’s the skinny straight from Wikipedia.com:
 
“Federal National Mortgage Association (FNMA) (NYSE: FNM), commonly known as Fannie Mae, is a stockholder-owned corporation chartered by Congress in 1968 as a government-sponsored enterprise (GSE), but founded in 1938 during the Great Depression. The corporation's purpose is to purchase and securitize mortgages in order to ensure that funds are consistently available to … (3 comments)

Short Sale Dictionary; Buying a Short Sale in Owensboro, KY - 02/27/12 05:25 PM
 
Short sale:  occurs when the borrower sells the property for less than what they actually owe, thus the term “short sale”.
 
“Possible Short Sale”:  This is a property that has been put on the market prior to getting the lenders approval for a short sale.  Most short sale contracts will include language that says:  “subject to lender (lien holder) approval”
 
Foreclosure:  Property is sold at a court ordered sale to settle the debt owed to a bank or individual.
 
Bank Owned Property:   a.k.a. REO (Real Estate Owned) property.  Property taken into the banks’ inventory after a foreclosure … (0 comments)

 
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Karen Pannell Owensboro KY Real Estate / 270-903-2167 Homes, condos, land, Farms

Karen Pannell, Owensboro, KY Real Estate

Owensboro, KY

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