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Yet another change that will impact investors in Colorado Springs

By in Investors On January 24, 2010

Fannie Mae and Freddie Mac have recently changed guidelines regarding seller contributions. If you are purchasing a second home that is not your primary residence, the seller can not contribute more than 2% of the purchase price toward buyer closing costs. In other words, if an investor purchases a home for $150,000, the seller cannot…

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Fannie Mae makes changes for REO Investor Purchases

By in Buying On December 9, 2009

Yet another change that will affect investors who purchase Fannie Mae Real Estate Owned (REO) listings.  Investors will not be allowed to submit an offer on an REO property until after it has been on the market for 15 days. Within the first 15 days, only bids from buyers who will occupy the home as their primary residence…

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Changes that may affect investors purchasing homes in foreclosure

By in Buying On November 24, 2009

If you plan on purchasing a home in foreclosure and do not plan on living in the home as your principal residence, you may be affected by the Colorado Foreclosure Protection Act. If a property falls under the Colorado Foreclosure Protection Act, investors are required to utilize a different contract when purchasing a home in foreclosure.  According…

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Housing Stimulus Bill to Help Troubled Homeowners

By in News On August 7, 2008

The Housing Stimulus Bill (The Housing and Economic Recovery Act of 2008) recently signed by President Bush, is expected to alleviate some of the turmoil surrounding the foreclosures bombarding the current real estate market in many areas around the nation.  The Housing Stimulus Bill entails many provisions and I will include only a few of…

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