Fannie Mae offering cash incentives to some home buyers

 If you're planning to shop for a home in the next few weeks, here's an early spring buying season come-on that just might save you some money if you qualify.
Fannie Mae, the largest mortgage investor in the country, has a bulging portfolio of houses acquired through foreclosures nationwide. About 31,000 of these properties are listed on its HomePath (www.homepath.com) resale marketing site. To move them quickly out of inventory, Fannie temporarily is offering qualified owner-occupant purchasers — but not investors — cash incentives toward closing costs of 3.5% of the purchase price. But you have to submit your initial offer no later than March 31 and close by May 31.
Fannie Mae offering cash incentives to some home buyers

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