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Mazzuca told CNN, Millions of people live in properties that were used as meth labs. While HUD foreclosures are real government owned properties, foreclosures for sale by Fannie Mae have more in common with private REO properties.
#Buying fannie mae foreclosures mac
Joseph Mazzuca has inspected and decontaminated over 1500 Fannie Mae and Freddie Mac REO properties. As government sponsored financing agencies, freddie mac and fannie mae foreclosed homes are priced lower than other properties typically sold at auction or on the foreclosure market. Therefore they are not liable for cleanup.
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Maximum LTV, CLTV, or HCLTV ratios of the lesser of 90% or the maximum LTV, CLTV, or HCLTV ratios for the transaction per the Eligibility Matrix. Fannie Mae HECM Reverse Mortgage Guidelines Please read this webiste in its entirety to fully understand the sale of the subject property.Additional requirements apply between three and seven years, which include: A seven-year waiting period is required, and is measured from the completion date of the foreclosure action as reported on the credit report or other foreclosure documents provided by the borrower.Ī three-year waiting period is permitted if extenuating circumstances can be documented, and is measured from the completion date of the foreclosure action.