Banktown Foreclosures
1626 S. Tryon Street
Charlotte, NC 28203
ph: (704) 906-1645
Scott
Homepath Loans - Search Homepath Properties
Fannie Mae and Freddie Mac programs are similar to each other - both seek to assist buyers, primarily owner occupants, into home ownership. With so many foreclosure homes and condos in their portfolios they've come up with incentives and have even begun updating their homes if needed - paint, flooring, appliances, fixures - and offer extensive coverage through home warranty programs.
They also offer, in most cases, to pay buyer closing costs. Freddie Mac is even offering to pay up to $1500 towards FUTURE homeowners association dues for buyers of foreclosure condos.
Both also allow you, as the buyer, to choose your own agent to represent you and present your offer - they pay your agents commission so this representation is at no cost to you and your agent will work to help you obtain the best price possible and best terms.
Search for Homepath Properties
The link below brings up the Fannie Mae Homepath search page set for Charlotte Foreclosure homes and condos.
SEARCH HOMEPATH FORECLOSURE HOMES & CONDOS
If these homes have "First Look" they are still in the owner occupant only period where investors are not allowed to bid. After two weeks of open listing investors are then allowed to place offers.
These properties are listed by firms in Charlotte representing THE SELLER (Fannie Mae in this case) and the seller's best interest. Their duty is to obtain the best price and terms for the seller. You, as THE BUYER, are allowed to choose your own agent who will represent you and your best interest as your "buyers agent" and the seller, Fannie Mae, will pay your agent.Homepath Lending Info & Terms
The Link below has information directly from Fannie Mae regarding their Homepath lending terms and options for both investors and owner occupants interested in purchasing Fannie Mae Foreclosure Homes & Condos.
HOMEPATH LENDING INFORMATION
Many lenders can assist in obtaining Homepath loans and purchasing Fannie Mae Foreclosures - we work with a representative with BB&T here in Charlotte - if you don't already have a lender in mind feel free to contact him and get pre-qualified. You'll have to be pre-qualified for a loan in order to present an offer (Fannie Mae, and all banks we've worked with, will not consider offers without a lender pre-qualification letter or proof-of-funds for cash offers).
To begin the pre-qualification process email mike.ray@BBandT.com - it's easy with no fees.Freddie Mac Homesteps
Homesteps is similar to Homepath but isn't open to investors. Both offer low downpayment options, seller paid closing costs for buyers, home warranty programs and other incentives to buy. Freddie Mac will contribute towards future Homeowner Association dues (up to $1500). The links below have information on Freddie Mac Homesteps lending and a search option to see Freddie Mac foreclosure homes and condos.
FREDDIE MAC LENDING INFORMATION AND TERMS
SEARCH FOR FREDDIE MAC HOMES
Charlotte Foreclosures - buyers agents for foreclosure homes and condos in the greater Charlotte region.
1626 S. Tryon Street
Charlotte, NC 28203
ph: (704) 906-1645
Scott
