FANNIE MAE HAS A NEW ADDENDUM READ CAREFULLY

I was very pleased to learn last Friday that Fannie Mae is using a new addendum for their REO properties. As you may know all banks use their own addenda for REO sales. For many years now Fannie Mae has been using basically the same addendum which stated that the buyer MUST use the seller's title agent and that the cost of transfer taxes and stamps would be bourne in full by the buyer. Fannie Mae is in fact EXEMPT from the payment of transfer taxes and stamps, although some local jurisdictions… More information...

User:	CHARLENE Perry
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