Fannie Mae Improves “First Look” Program for REO Property Sales

First Look program helps owner occupant home buyers get first opportunity over investors to buy Shasta County bank owned (REO) properties.

Fannie Mae’s First Look, initially started in late 2009, is designed to provide owner occupants a “first look” at Fannie Mae homes. Under this policy, Fannie Mae will only consider offers from owner occupants and buyers using public funds during the First Look marketing period which is typically the first 15 days a property is listed. If the property is still for sale after the First Look Marketing period expires, investor offers may be submitted and will be considered.  Properties in the First Look marketing period will have a timer with the number of days remaining on the Fannie Mae Home Path property details page.

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