Fannie Mae offers bonus to Realtors to drive sales of its foreclosed homes
Federal mortgage backer Fannie Mae hopes to energize sales of its repossessed homes with a new $1,200 bonus to Realtors and an extension of closing cost help to homebuyers.
Tuesday’s announcement came as a June 30 deadline approached for homebuyers to earn up to 3.5 percent of the final sales price on a home to put toward closing costs. That offer is now good on contracts closed by Oct. 31.
Palm Beach County has about 850 homes listed on Fannie Mae’s HomePath sales website, www.homepath.com. Statewide, nearly 5,900 homes are listed.
The $1,200 bonus to the selling agent only applies if the buyer plans to live in the home. Investor sales are not eligible.
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They have to sell these houses so they can clear all the clouded titles they have. A giant cover up of Fraud. If they let people stay in their homes they really might discover that fannie really dosent have title so they make new chains,and cover up everything at the recorders office……
How would Fannie have clear title? The only way they can clear a title is if we sign off by force or we are forced to sell the house.. The DEED has been conveyed to us since the ORIGINATION. They broke their chain along time ago, like at ORIGINATION. THERE IS NO ORIGINATION ANYWHERE ON MY TITLE AND THEN THERE IS MERS.
This is sheer arrogance of our rights and our national sovereignty by the foreigner owned and operated multinational IMF OWNED FANNIE MAE. THE U.S GOVERNMENT IS LETTING THEM GET AWAY WITH VIOLATING OUR U.S. CONSTITUTION AND OUR U.S. BILL OF RIGHTS AS WELL AS ALL OF THE STRICT PROPERTY LAWS THAT WERE PUT IN PLACE TO PROTECT WE THE PEOPLE FROM SUCH A TYRANNY.. NOTHING GIVES THESE FOREIGNERS THE RIGHT TO COME INTO AMERICA AND DESTROY IT BECA– USE THEY SAY WE OWE THEM MONEY. THEY CAN’T PROVE WE OWE THEM ANYTHING BECA– USE WE DO NOT. .This is about no more than an attempt at WORLD DOMINATION by the UN/NEW WORLD ORDER. WHAT THEY ARE GETTING AWAY WITH IS ILLEGAL AND UNCONSTITUTIONAL. THIS IS ALL A RESULT OF MASSIVE CORRUPTION AND TREASON BY OUR OWN ELECTED OFFICIALS.
They just can’t leave it alone. They just want this whole mess to drag out for a few more decades. I hope that the realtors get sued by the buyers when they find out they have been sold a house with a clouded title for a 1200 hundred dollar bonus.
Hope the toxic titles end up biting Fannie and the realturds who peddle their REOs in the rear.
why do this? take the money and let people stay in their homes!!!!! why is obama letting this happen. so let me recap kick us out due to underemployment/unemployment and pay a relator to sell it . so again appraislal fraud tooccur again. di you read the rest people have to live in these not investors. again how are they going to prevent that . that is what started the flipping frenzy no one was watch and appraisal fraud occured becuase no one was watching. this is wrong and i feel it is time for obamam to step up to the plate and keep people in their homes and return the ones fraudulently taken. we are being scammed and there is no end in site
If homeowners were offered the discounts that are tendered to Realtors and buyers, they might be able to retain their properties. Instead, banks are liquidating REO inventory at 20-40+% below market value in order to move inventory, paying extra to ‘exclusive’ broker agencies who exclusively handle REOs. It is a bonus for Realtors on the”inside” but seldom trickles down, resulting in a bidding war where the agency picks up a good commission and no one wins except new buyers. You know this tactic will clear desirable homes in good markets but it will do little or nothing for derelict properties in sub prime areas. With credit still elusive, this program is primarily “for show.”
When will the players learn that they need to keep people in their homes by offering them principal reduction to the same extent that the banks are paying to handle as a REO. It makes no sense to foreclose on underwater mortgages just to drive the market deeper under.
Foolish tactics by people who have no real comprehension of the real problem.
Exactly right! “When will the players learn . . .?”
We need to keep people IN their homes, not subsidize their eviction.
Fannie Mae and Freddie Mac MUST begin to authorize principal reductions so underwater homeowners don’t bail out and add to the VAST inventory of empty homes that dooms any foreseeable economic turnaround.
TIME FOR THE BANKS TO WALK AWAY AND GIVE PEOPLE BACK THEIR STOLEN HOMES AND COMMERCIAL PROPERTY. THE SEVERED THE NOTE FROM THE MORTGAGE AND WE ARE UNDER NO OBLIGATION TO GIVE ANYTHING TO THAT CREDITOR LEAST OF ALL OUR HOMES. THEY KILLED THEIR OWN LEGAL CONTRACT AND IT WAS INTENTIONAL BECA– USE OUR HOMES ARE PAID FOR BECA– USE OF THEIR PONZI SCHEME SWINDLE AND HEIST. THEY MADE HUNDREDS OF TRILLIONS OFF OF THEIR PONZI SCHEME AND — USED OUR SIGNATURES AS THEIR COLLATERAL FOR THE BIGGEST PONZI SCHEME SWINDLE AND HEIST IN HISTORY. THERE SHOULD BE IMMEDIATE NATIONWIDE LOAN RESCISSIONS ON THE BASIS OF FRAUD FROM ORIGINATION TO FRAUDCLOSURE.,. THIS IS ALL ABOUT GREED AND WORLD DOMINATION. THERE WILL BE NO WORLD DOMINATION HERE IN THE UNITED STATES OF AMERICA WE LIVE UNDER THE U.S. CONSTITUTION AND THE U.S. BILL OF RIGHTS. NATIONAL SOVERIEGNTY WILL PREVAIL.
IMF FOREIGN OWNED FANNIE/FREDDIE AND ALL OF THEIR FOREIGN OWNED WALL STREET AND BANKSTER COHORTS SHOULD BE IN PRISON FOR THEIR PONZI SCHEME. THESE FOREIGN CRIMINALS HAVE NEARLY DESTROYED OUR COUNTRY AND THEY ARE REALLY AFTER OUR NATIONAL SOVEREIGNTY. WAKE UP AMERICA..
Bloomberg reporting today that the PRESSURE IS ON BANKS OVER FRAUDCLOSURES. Bethany McClean was interviewed on Bloomberg, she is the author of the book “THE DEVILS ARE ALL HERE. ” She used to work for GOLDMAN SUCKS. She said “INCOMPETANCE” BY THE BANKS IS BORDERING ON CRIMINALITY. That is a HUGE understatement. FANNIE AND FREDDIE ARE CRIMINALS. She also said that the banks are going to have to eat many billions in losses and this is ALOT MORE THAN A MERE PAPERWORK PROBLEM She said the banks are going to be insolvent again (deceptive,they already are insolvent, their books are cooked with alot of LIES, IT IS CALLED ACCOUNTING FRAUD) when they have to start EATING ALL OF THEIR BANKSTER MALFEASANACE. OUR HOMES ARE PAID FOR AND THEY KNOW IT THERE IS NO PRINCIPLE TO REDUCE. THEY MADE HUNDREDS OF TRILLIONS OFF OF OUR NAMES WHICH THEY — USED AS COLLATERAL FOR THEIR PONZI SCHEME. NOW THE FOREIGNERS/THE NEW WORLD ORDER, ARE JUST BEING STINGY AND GREEDY AND WANT AMERICA TO BE A NATION OF RENTERS. I PRAY THEY HAVE TO GIVE BACK EVERY STOLEN HOME TO THE HOMEOWNER AND EAT ALL OF THE REST. THEY HID ALL OF THE WEALTH IN OVERSEAS BANKSTER ACCOUNTS. THAT IS HOW THEY SPREAD OUR WEALTH AROUND THE GLOBE AND THEY ARE EFFING DESPICABLE. I HOPE THEY ALL BURN IN HELL AND NEVER GET TO STEAL ANOTHER PHONY, FRAUDULENTLY INDUCED MORTGAGE PAYMENT FROM THE AMERICAN PEOPLE, EVER..THEY ARE ALL GREEDY CRIMINALS. THIS IS A FOREIGN MULTINATION TYRANNY THAT HAS — USED A GIANT PONZI SCHEME CONSPIRACY TO HIJACKED AMERICA. THESE FOREIGNERS DONT OWN JACK SHIT EXCEPT FOR A LOT OF LIES AND ALOT OF DECEPTION. THEY STOLE OUR WEALTH, OUR JOBS, OUR PROSPERITY AND NOW THEY WANT TO STEAL OUR HOMES. THEY DO NOT OWN OUR HOMES. IF THE MORTGAGE HAS BEEN SEVERED FROM THE NOTE, YOU ARE UNDER _NO OBLIGATION_ TO GIVE ANYTHING TO THAT CREDITOR, LEAST OF ALL YOUR HO– USE. THEY SEVERED THE NOTE FROM THE MORTGAGE IN JUST ABOUT EVERY CASE. THEY KILLED THEIR OWN CONTRACT. THAT IS ILLEGAL AND UNCONTITUTIONAL.