* Homepath is the marketing arm and website for Fannie Mae
Fannie Mae exists to provide the financial resources and mortgage money capital to keep local banks and other lending institutions liquid with available cash to lend. Think of it this way, Fannie Mae is like a bank for a bank! From time to time these mortgage's are foreclosed on and the homes become for sale after the previous owner has had and missed the opportunity to "redeem" the property by paying off what was owed on the loan. When this happens, it is unfortunate, but now that home can be sold to another family to replenish the funds that were tied up, so it keeps the housing industry moving forward, one homeowner at a time.
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