HomePath Financing is a special mortgage & Purchase option for Fannie Mae Foreclosures.
When a Fannie Mae Mortgage Property goes into foreclosure, this option of purchasing one of their homes is a great source of information.
As in most programs, you still must utilize the services of a Realtor to bid and purchase one of these homes. However, considering all the various risks and needed skills to bid on one of these properties, why expose yourself needlessly. Utilizing a Realtor will cost you no additional moneies!
As per their Fannie Mae HomePath Financing website page:
This program allows both investors and home owners to purchase their properties. They want the program to be fair to all and of course will award to the highest bidder. As a individual trying to purchase a home, this is a great source to look through. The bidding can be done right online with the help of your Realtor.
This program provides for the first 15 days of a bid to be restricted to Owner Occupants only. Investors may not bid during that time period.
Remember, the goal of all of these various programs is to get a house off the foreclosure lists and back into ownership, as quickly as possible - a win-win for the purchaser and the neighborhood as well.
The general guidelines for this particular program can be found here -HomePath Financing
The website page with the listing of available housing is - Find a House
Their Buyers Guide Download (12 pages) is an excellent source of information regardless of the type of Government Program purchasing you are considering.