Fannie Mae Foreclosures

Fannie Mae foreclosures are homes that have been foreclosed upon and are now owned by Fannie Mae. Fannie Mae, whose official name is the Federal National Mortgage Association (FNMA), is a private, shareholder-owned company that buys mortgage from lenders and resells them as securities on the secondary mortgage market. Fannie Mae doesn't make loans directly, but when a home secured by a Fannie Mae is foreclosed upon, Fannie Mae then becomes the new owner and sells the home as quickly as possible.

Any qualified individual may purchase a Fannie Mae foreclosure. Although Fannie Mae loans are available for these Home Foreclosures, it is neither required or guaranteed that the new buyer obtain one. A licensed real estate broker who specializes in Fannie Mae foreclosures will be able to provide more information on the process of purchasing one of these Home Foreclosures.

Home Refinancing

Home refinancing can be a great tool to prevent Home Foreclosure. Home refinancing occurs any time that existing loans are paid off by a new loan, but they can also help prevent Home Foreclosure by lowering your monthly payments. Refinancing your home can take the form of Home Mortgage Refinancing or refinancing secondary financing, like Home Equity Loan Refinancing.