HomePath – 43% price drop at The Heritage

Unit 2512, a 2-bedroom, 2-bath at The Heritage at Millennium Park, sold new for $650,000 in July of 2008. After a foreclosure and a series of price reductions it is currently offered at $372,000 under FNMA’s HomePath program.

Jameson Sotheby’s Rhett Schrock has the listing.

In the video, Steve Klein of the DK Home Team outlines the HomePath program. HomePath gives owner-occupants a 15-day window to purchase the properties before investors are allowed to bid on them. No appraisal is required, and owner-occupants can purchase with as little as 3% down and no PMI (private mortgage insurance).

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