Freddie Mac launches Winter REO promotion
Homesteps, the real estate sales unit of Freddie Mac, launched a sales promotion Tuesday for its inventory of foreclosed homes in select states. Under the HomeSteps Winter Sales Promotion, HomeSteps will pay up to 3% of the final sales price towards the buyer's closing costs and a $1,000 selling agent bonus for initial offers received between Nov. 15 and Jan. 31, 2012. Escrow must be closed on or before March 15, 2012. The promotion arrives in a year in which Freddie Mac has sold more homes than it foreclosed. The GSE sold a record number of real estate owned properties in 2011 at 94% of market value and accounted for 4.4% of the nation's inventory of foreclosed properties as of Sept. 30. The offer is valid only on HomeSteps homes sold to owner-occupant buyers, who make up 70% of Freddie sales. It is available on HomeSteps sales in 28 states and the District of Columbia. Click on image below: Write to: Justin T. Hilley. Follow him on Twitter @JustinHilley.