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Volume 2014 - Number 46

December 4, 2014

FHFA Policy Directive Allows Some Former Foreclosed Borrowers to Purchase Home From Fannie, Freddie REOs

Some foreclosed homeowners may have the option to repurchase their homes at fair market value following a new directive from the Federal Housing Finance Agency that calls for the two government-sponsored enterprises to relax policies related to the sale of real estate owned properties to defaulted borrowers. The two government-sponsored enterprises until now have required foreclosed borrowers that want to purchase their home from REO inventory to pay the full amount of the unpaid debt on their previous mortgage. “This is...

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