I just received a $25 Visa card for taking an online survey that was emailed to me and then suggesting to Fannie Mae a home-buying program that would buy down your interest rate for two years and that money would be put in an account for you to use however you wanted at the end of the two years!
Question: Would this program interest you or your buyers in buying a bank-owned property today?
I only ask because they were suggesting in the survey stuff like: inspection credits to take at closing, buy down rates for next two years, including pre-inspections for the buyer, and appliance reimbursements...
I know there are many home-buying incentives (many of which I am trying to learn), but it seemed to bother me a little when I saw "buy down your interest rate" and when I read between the lines, at the end of two years, the interest rate would hike back up. I feel that if a buyer where to become accustomed to a specific monthly payment for two years, then at the end, the monthly payment would raise to the predetermined figure, isn't that just slightly close to predatory?
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