Home/Mortgages/Freddie Mac Offering Buyer Assistance on Foreclosures

May 17, 2011 (Shirley Allen)

Freddie Mac is offering a new round of buyer assistance on homes in its HomeSteps foreclosure inventory now through July 31, 2011. The HomeSteps Summer Sales Promotion is being offered nationwide and provides closing cost assistance for the buyer and a bonus for the selling agent.

The offer is only valid on HomeSteps homes sold to owner-occupant buyers only. The program provides for buyers assistance of up to 3.5 percent of the buyers closing with a $1,200 bonus for the selling agent for initial offers between May 16, 2011 and July 31, 2011. Escrows must close on or before September 30, 2011.

Some homes may also qualify for a two year Home Protect limited home warranty that covers electrical, plumbing, air conditioning, heating and other major systems and appliances. Home Protect also provides discounts of up to 30 percent on the purchase of appliances.

Freddie Mac strives to have the best property and sales standards in the country through HomeSteps, requiring their supplier network to adhere to its HomeSteps Good Neighbor Practices.

The Good Neighbor Practices protects neighborhood values by requiring participating agents to show a clean and maintained home and sell them at market prices.

Additional information can be found on the HomeSteps website.

Tags: HomeSteps, Freddie Mac, closing cost assistance, home protection warranty, best property, market prices, maintained homes

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