What is HomeSteps com?
HomeSteps® is the Freddie Mac sales unit responsible for marketing and selling Freddie Mac real estate owned (REO) homes to homeowners and investors. HomeSteps manages every stage of the REO process, from handling title issues after foreclosure to working with local listing agents to facilitate a sale.
What is a Freddie Mac HomeSteps property?
What is HomeSteps? HomeSteps is the program through which Freddie Mac, one of the largest mortgage agencies in the U.S., sells its foreclosure properties. Freddie Mac's objective is to protect neighborhood home values, and the neighborhoods themselves. It spruces up its foreclosures then puts them back on the market.
What is the First Look initiative program with Freddie Mac?
The Freddie Mac First Look Initiative is an ongoing initiative which offers owner-occupant homebuyers and select non-profits engaged in community stabilization efforts the ability to purchase HomeSteps homes during their initial 20 days of listing (30 days in Nevada, Cook County, IL, and the city of Detroit, MI) ...
Does Freddie Mac buy homes?
Freddie Mac buys home mortgages, primarily from smaller banks and savings and loans. In doing so, Freddie Mac keeps its lender network liquid, so it can keep making loans. This has proven key to keeping the mortgage industry in continuous operation.