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Fannie Mae announced Monday that borrowers purchasing a Fannie Mae-owned property through HomePath, the GSE's REO disposition operation, will receive up to 3.5 percent in closing cost assistance. The initial offer must be submitted on or after April 11, 2011, and the sale must close on or before June 30, 2011 to be eligible for the incentive. Fannie Mae said it can give no assurance on the time required to close, but initial offers submitted after May 15, 2011 are particularly questionable for closing by the incentive deadline of June 30. To qualify, buyers must reside in the home as the...
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