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Posts Tagged ‘fannie mae’

How long do I need to wait for the bank to sign the addendum to buy a foreclosure?

November 30th, 2010 1 comment

I sent a purchase contract to Fannie Mae for a foreclosure and they sent back an addendum. I reviewed it, signed it and sent it back last week. How long do they usually take to signed the contract? and how about if they hold the contract for another week or weeks to see if they get a better offer, can I get out of it?


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If I get preapproved with Fannie Mae, can I buy a foreclosure? If yes, can I buy it from an auction?

July 19th, 2010 3 comments

I’m located in Georgia, and I want to buy a foreclosure. If I get preapproved through a Fannie Mae lender can I buy at an auction or do I need to use a realtor? Also, can I get rehab money included in the loan (that is if the house is less than my approval amount)?

Thanks!


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