Fannie Mae changes regulations to help owner occupied buyers

there has been many a frustrated buyer competing with investors. Help for owner occupied buyers should like it is on the way. For all those buyers that have been frustrated with loosing out to cash investors, Fannie-Mae has announced a “First Look” program for individual homebuyers, public entities, and certain for profit and non-profit entities for the first 15 days a Fannie-Mae property is on the market (MLS). This is good news for buyers who have been frustrated with cash investors and non-owner occupied investors grabbing up much of the REO inventory.

During the first 15 days, a property is listed for sale, only offers from owner-occupants, public entities or their designated partners will be considered. Offers from investors can be submitted, but they won’t be considered until after the initial 15 day waiting period.

Individuals and organizations using public funds to purchase Fannie-Mae owned properties can take advantage of this initiative which provides neighborhood stabilization.

This will be interesting to see if this helps the owner occupied buyer purchase their desired home and not loose out to the investor.

If you would like help in your home purchae, make sure you give the HomeStalker Group a call. We pride ourselves in our professional, attentive service.