With the influx of foreclosure properties on the market, Fannie Mae (FNMA) and Freddie Mac (FHLMC) have put in place programs to help people purchase these homes. There are huge incentives for them to get these homes sold and they're offering some enticing benefits to buyers. Some of the benefits include getting into a home at a lower purchase price, competitive rates, little money down, and NO mortgage insurance.

www.Homepath.com and www.Homesteps.com are sites that show the current properties on the market that have been foreclosed upon and have special financing for buyers. A buyer can check out the sites and choose homes either as their primary residence or investment property with little down. For example, if you wanted to purchase one of these properties as your primary residence right now, you could do this with as little as 3% cash down (10% for an investment property) according to current guidelines.

If you or someone you know are looking for a new property, it's worth checking into these options as well.

Happy house hunting!