I have a friend who will only buy foreclosed homes. He gets awesome deals because, unlike me, he’s not afraid to put in a little elbow grease (I shudder).
Shuddering aside, sometimes the deals are so good that even a fixer upper neophyte like myself can be tempted to buy. However, no matter how hard I’ve tried to bribe him, he’s never revealed his sources for finding these homes.
Well, now I can stop bugging him. Fannie Mae and Freddie Mac, now ubiquitous names in the American housing meltdown, are unloading foreclosed properties as fast as possible.… Read the rest