Check Out Fannie Mae Foreclosures And HomePath Financing
I am seeing the pricing the bank puts on these homes to be HIGH!! I just lost a short sale to foreclosure -on market for 6 months at $199,000 with the best offer I received being $210,000. He went away because of the long wait. I had another cash offer at $200,000 and BofA rejected it as too low!! I had also pointed out that the home needed $30,000 in repairs. Well now home is an REO listed at $269,000 - NO APPRAISAL REQUIRED NO MORTGAGE INSURANCE ONLY 3% DOWN IF OWNER OCCUPIED ONLY 10% DOWN IF INVESTOR PROPERTY and they will finance the repairs.
No appraisal works very well for the bank in this case when I believe the market value is $200,000.
I received an email from Martin Harris at Regions Bank yesterday with interesting information about Fannie Mae Foreclosures and HomePath financing:
We are pleased to announce that Regions Bank has been added as a HomePath Mortgage Lender...... if you have a client purchasing a Fannie Mae foreclosure, we're one of the FEW banks in Tennessee that can do provide very special and unique financing whereby there is:
NO APPRAISAL REQUIRED
NO MORTGAGE INSURANCE
ONLY 3% DOWN IF OWNER OCCUPIED
ONLY 10% DOWN IF INVESTOR PROPERTY (the usual down payment is 20% down)Call or email us to get started on this program and take advantage of this great financing. Martin Harris at Regions Bank can pre-approve you for the mortgage and we will be off and running to get you a good deal on a property in Middle Tennessee!
Investors, this is especially great news for you if you want a lower down payment than what is usually required!
For more information on available properties, call or email us!
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Sarah & John Rummage
American Realty Resources LLC
295 Plus Park Blvd Ste 207
Nashville TN 37217
Office: 615-457-2188
Direct: 615-516-5233
www.HouseInNashville.com
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