Home bidder believes investors are snapping up government foreclosure properties against the rules

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Home bidder believes investors are snapping up government foreclosure properties against the rules

Home bidder believes investors are snapping up government foreclosure properties against the rules

ABC Action News-

After the housing crash, the Federal National Mortgage Association, or Fannie Mae, set up the Homepath program, allowing people who planned to live in previously foreclosed homes an opportunity to buy them before investors.

But the I-Team has learned that the program doesn’t always work to put owner-occupants in homes, since rules are sometimes hard to understand and not everyone is abiding by them.

“I had my heart set on it,” said Clearwater cigar store owner Leglio Sotolongo of his dream home.

The property, located in rural Pasco County, came with a barn and stables on five acres.

[ABC ACTION NEWS]

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