Monument Properties AZ

If you are type that likes to tackle a fixxer-upper project....then this home is for you! It has the potential to be a 4 bedroom 2 bath home with lots of square footage. The home backs Walnut Creek and even has a gate to access the creek. Lots of tall pine trees...close to schools, shopping and activities. Take a look at the video...

 It is very likely that this home will have some challenges when it comes to financing...a cash deal would make this one a whole lot easier. Priced at $124,900.

The Obama Administration in late March was requiring banks to consider lowering balances in loan modifications. Who doesn't seem to be listening? Looks like Freddie Mac and Fannie Mae backed loans are not following Obama's request. If they change their tune and start lower balances...can this mean a reduction in the amount of foreclosures we see? Read more.

I was reading an article put out by the Housing Predictor website and they talked about their prediction that their predicted number of foreclosures is expected to go down over the next few years. How can that be? Read the full article.

Here is the offer that comes straight from the Fannie Mae Website:

Closing Cost Assistance and Appliance Incentive for Fannie Mae Homes

Fannie Mae is offering a 3.5% incentive* for buyers who purchase and close on a Fannie Mae-owned home between January 28 and April 30, 2010. Buyers purchasing properties listed on this site that are closed within this period may receive up to 3.5% of the final sales price for:

·         Closing costs;

·         The purchase of new Whirlpool® appliances by Fannie Mae; or

·         A mix of closing costs and appliances, at the buyer’s discretion, up to the maximum 3.5%.

To be eligible for this incentive:

·         Offers must be accepted on or after January 28, 2010

·         Property sales must close before May 1, 2010

·         Buyers must be owner-occupants, investors are excluded

Contact a Fannie Mae listing broker for more information.

*Lenders may impose their own limitations on the use of the 3.5% incentive, so buyers should consult their lenders for guidance.

If you would like to receive a free list of the Fannie Mae bank owned homes in the White Mountains...Send me the Fannie Mae Home List!

Read more about it here!

Here's an interesting link to an article that talks about President Obama's Rescue Plan and banks' progress reports on loan modifiations. We still have a long way to go before this problem gets more results.

 Read more here...