In late November, the FHFA announced qualified buyers would be allowed to purchase Fannie Mae and Freddie Mac REO properties at current market value, effective Nov. 25, 2014. Previously, homeowners who went through foreclosure and wanted to buy their homes back had to pay the entire amount owed on the mortgage. The change also allows a third party to purchase the property on behalf of the previous owner.
Posted on: Sat, 20 Dec 2014 16:22:55 +0000
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