Investor · Morgantown, WV · Member since 2016 · 43 posts · 17 votes
A SFH I am interested in - which I know was foreclosed. Fannie Mae was the grantee of the homeowner's deed and several months ago ( over 6). It's now REO by Fannie Mae.
I've been following the property, however it has not been listed on Homepath and in reviewing the deed recorders office, it has not been sold.
Does it take a long time for Fannie Mae to list a property? Something else?
Some properties take another year after it's foreclosed on to be listed with a Realtor. It takes the bank a couple months to evict the previous homeowner and they also have to decide which asset manager they would like to hand the property off to.
After more research, it looks like the house was part of a forced sale. Has anyone had any success contacting the Fannie Mae officer in charge of REOs for a specific property?
Typically, in WV the foreclosure process is quite fast. I've been involved in foreclosure sales in MD and it's taken freakin years, with the end result being the house becomes a tear down due to lack of maintenance.
I am in the same boat... I know there is a FNMA foreclosure that I would like to buy in Indianpolis, but it is not For Sale. I don't know who to contact, either.
Hard to know when it will be listed as a REO. I've seen homes that have been banked owned and not listed for years. Fannie Mae is a massive GSE so you'd think if the ball isn't dropped it should pop up within a year or so on the longer end.