Just hit up an REDC auction near you … that’s how:

Buying Fannie Mae-owned homes just got easier.

The largest mortgage buyer/backer in the nation recently rolled out HomePath Online Offers, which gives real estate agents the power to submit bids on behalf of clients who are interested in buying foreclosed — also known as Real Estate-Owned (REO) — homes.

Buyers/investors in Orlando, Fla., San Diego, Calif., and Detroit, Mich., will be the first to test out the new program.

Jim Tiegen, Vice President of Fannie Mae’s REO regional offices, had this to say to DSNews.com about the innovation:

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There’s a glimmer of hope for the “Sunshine State” housing market, which is among the five “hardest hit” in the nation.

It was hit so hard, in fact, that investors near and far are now snatching up cheap deals left and right with cold hard cash.

Miami Herald reports today that a staggering 60 percent of South Florida purchases have gone to foreign buyers, pushing pending home sales in July up more than 40 percent in Miami-Dade county alone when compared to the year prior (2009).

Jack H. Levine, chairman of the board of the Miami Realtors, is “encouraged” with the latest numbers.

Here’s a snip:

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Forbes has compiled a list of the riskiest cities for homeowners, which have the highest percentage of borrowers who are at least three months late on their mortgage payments.

Check it out:

1. Las Vegas, Nevada
2. Riverside, California
3. Stockton, California
4. Modesto, California
5. Bakersfield, California
6. Vallejo, California
7. Orlando, Florida
8. Memphis, Tennessee
9. Miami, Florida
10. Fresno, California

“Sin City” has the dubious distinction of topping this list; however, California has six cities in the top 10, underscoring the distressing situation on the left coast.

The good news is that the “Golden State” recently pledged $700 million to prevent about 40,000 foreclosures. In fact, the program, “Keep Your Home,” is the nation’s “biggest principle reduction program,” trimming mortgages by up to $50,000 each.

If you are a struggling homeowner in California and want to learn more about whether or not you qualify for mortgage assistance click here. Those who want to view foreclosures in California — or anywhere else in the United States for that matter — should click here.