Foreclosure in New Hampshire>Question Details

AEMJ, Home Buyer in 02359

How long does it take for Fannie Mae to list home they foreclosed on?

Asked by AEMJ, 02359 Thu May 26, 2011

I'm interested in a home that got foreclosed on by trustee sale this week. The investor is Fannie Mae and represented by MERS. How long does it take to process this home and have it assigned to a REO agent and listed on Fannie Mae's HomePath?

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Hello! It depends on the situation. Was it a foreclosure or a deed in lieu of foreclosure? Chances are the home has already been signed to an REO agent. My neighbor’s home was a Fannie Mae's HomePath and the day the home owner gave the bank the keys (this was a deed in lieu) the agent was out that night putting up signs in the window and a lock box. From that day it took approximately 35 days for the home to be placed in the MLS. If it is a regular foreclosure the timeframe can take any where from 60-90 days for the home to be placed in the MLS. I hope this helps!
0 votes Thank Flag Link Thu May 26, 2011
There is no set time, it could be as little as the same week or longer if there is a deed issue. Most often the home is assigned to a local broker, they assess if the home is occupied, if so start eviction if not assess if it requires a trashout or repairs. The property needs to be appraised and can be on the market in as little as 3 weeks if all scenarios are good.

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0 votes Thank Flag Link Thu Jun 2, 2011
Depends on the case by case senerio. I have seen some of their house stays on a "limbo" situation for longer than 6 months. Sometimes it could get worst... All depends.
0 votes Thank Flag Link Thu May 26, 2011
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