Fannie Mae announced a program aimed at helping ordinary buyers compete with investors for foreclosed homes. Fannie’s program ‘First Look’ plans to consider offers only from potential owner-occupants during the first 15 days on market – not investor buyers.
Fannie would help owner-occupants acquire homes by reducing deposit requirements to as little as $500.
Fannie Mae has over 72,000 single family homes on its books.
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