Freddie Mac is implementing a new plan this month to offer leases to those households who loose their home to foreclosure. They fell by doing this they will keep many empty homes off the market which further depress the housing market and pushes home prices further down. They also feel that keeping foreclosed properties occupied and in better repair will support local property values.
By doing this they hope to promote a faster recovery in the housing market as well as maintain the value of these foreclosures. Fredding Mac will continue to seek loan modifications in order to help retain ownership. But those who are eligible renters will receive a month to month lease.
Chris Lee . RealtySouth . www.chriswlee.com
C) 205-233-5183 e-mail) email@example.com