ACTIVE REAL ESTATE FORECLOSURES FOR SALE WITH FHA FINANCING IN BIRMINGHAM AL-05/26/2011

ACTIVE REAL ESTATE FORECLOSURES FOR SALE WITH FHA FINANCING IN BIRMINGHAM AL-05/26/2011

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL-05/26/2011 list has  been
posted

http://bhammls.net/BAARReports/ListitLib/show_report.aspx?ID=7015666484

These  are Single Family Homes ‘Active’ on the Birmingham MLS. These homes

are  ripe for the picking. Don’t Let them pass you by. ACT NOW!!

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN YOUR AREA

HomePath® Buyer Incentive

Fannie Mae is currently offering buyers up to 3.5% in closing cost assistance through June 30, 2011.

The HomePath property buyer must meet the following qualifications to be eligible:

  • Buyers and/or selling agents (the agent representing the buyer) must request the incentive upon submission of initial offer in order to be eligible.
  • The initial offer must be submitted on or after April 11, 2011 and close by June 30, 2011. If an initial offer was made prior to the effective date, the offer is not eligible for the incentive.
  • The sale must close on or before June 30, 2011. No exceptions will be made to this deadline.
  • Only buyers purchasing a HomePath property as their primary residence may receive up to 3.5% in closing cost assistance. Second homes and investment properties are excluded from the incentive.
  • Buyer must sign the Owner Occupant Certification Rider to the Real Estate Purchase Addendum.
  • If a buyer’s total closing costs are under 3.5%, the difference will not be available as a credit to the buyer.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

Properties with this logo are eligible for special financing that includes: Properties with this logo are eligible for special financing for light to moderate renovations and includes:
HomePath Mortgageallows a borrower to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance.  Expanded seller contributions to closing costs are allowed.Benefits to You, the Borrower

  • Low down payment and flexible mortgage terms (fixed–rate, adjustable rate, or interest–only).
  • Down payment (at least 3 percent) can be funded by the borrower’s own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer.
  • No lender-requested appraisal.
  • No mortgage insurance; ask your lender for cost details on loans without mortgage insurance.
  • Expanded seller contributions for closing costs allowed.
  • Available for primary residences, second homes and investment properties.
  • Many condo project requirements are waived; ask your lender for details.
  • For more information, contact a HomePath Mortgage lender or click here for the Home Buyers Guide.
HomePath Renovation Mortgageallows a borrower to purchase a property that requires light to moderate renovation. The one loan amount includes both the funds for the purchase and renovation – up to 35% of the as completed value, no more than $35,000.Benefits to You, the Borrower

  • Low down payment and flexible mortgage terms (fixed- rate or adjustable-rate).
  • Down payment (at least 3 percent) can be funded by the borrower’s own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer.
  • Renovation amount based on appraisal “as completed” value.
  • No mortgage insurance; ask your lender for cost details on loans without mortgage insurance.
  • Expanded seller contributions for closing costs allowed.
  • Available for primary residences, second homes, and investment properties.
  • Many condo project requirements are waived; ask your lender for details.
  • For more information about the renovation process, contact a HomePath Renovation Mortgage lender.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

ACTIVE REAL ESTATE FORECLOSURES FOR SALE WITH FHA FINANCING IN BIRMINGHAM AL-05/26/2011

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