Home Buying in Danbury>Question Details

powerman3007, Home Buyer in Danbury, CT

Is it possible to submit an offer on a Fannie Mae foreclosure through the First Look program if a family member will be paying for the home?

Asked by powerman3007, Danbury, CT Tue Oct 23, 2012

Okay, here's the background: We have been looking for a home for about 6 months now. I have found Home Path to be a great resource. We have made offers on two Fannie Mae foreclosures, but did not qualify for submission under the First Look program. The problem being that my grandfather was listed as the purchaser and he will not be living with me so we come off looking like investors and he would not be an owner-occupant. Once again, I have found a promising home through Home Path, but stand little change of having our offer considered if we cannot submit it under the First Look program. We can submit the offer under my name, as an owner-occupant, but the money (cash offer) would be coming from my grandfather's account and we do not share the same last name. Is there any way we can submit such an offer? Perhaps we could list him as a private financier? We have contacted both the Home Path hotline and the listing agent, but neither can give us a straight answer.

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