Fannie Mae is going to move the REO faster

Realty Times posted a Washington Report that Fannie Mae is tired of all the REO properties, properties taken back in foreclosure.  They want to change the current method of waiting 15 days after they get title, which is a waiting period for the original investor/financier to find a buyer.  Instead, as soon as Fannie Mae gets the property, they want to list it and get it sold for Fair Market Value.

This will allow home buyers to get in right up front and not have to wait until 15 days for the investor to try and beat an offer.  This should level the playing field for those buyers trying to get into a new property.

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