— By Mark Treiber, Tahoe Daily Tribune on May 22, 2011
There’s opportunity right here, right now in real estate in the form of low prices, low interest rates and fabulous government-sponsored homebuyer assistance programs. The preparation part is managing your credit history, creating a budget (and sticking to it), and saving money for a modest down payment and reserves. The mortgage program profiled here provides a rare opportunity to buy a home with a minimal investment and relatively low monthly payments.
Fannie Mae (FNMA, the government sponsored agency responsible for ensuring liquidity in the mortgage markets) has a bunch of foreclosed properties on their books and are motivated to liquidate this inventory because every day is costing FNMA (us taxpayers) millions of dollars. …read more