Fannie Mae is trying to attract buyers for homes it has repossessed by offering 3.5% of the price to cover closing costs, Whirlpool appliances or a combination of the two.
To be eligible for the incentive, sales must close before May 1 and the buyer must be an owner-occupant; property investors are excluded, Fannie said Thursday. The government-sponsored enterprise has listed more than 50,000 of these properties on its HomePath Web site.
Freddie Mac began offering a similar incentive for buyers of its roughly 41,133 real estate owned properties last year. That program is set to end Jan. 31.
