Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Q: What's the "First Look Initiative?"
Q: What's the "First Look Initiative?"
A: Freddie Mac (Federal Home Loan Mortgage Corporation) is a government sponsored enterprise, one of two federal agencies that purchase home loans from lenders.  It was established to purchase existing closed mortgage loans from savings associations in the secondary market and to resell them as securities.  HomeSteps® is the Freddie Mac sales unit responsible for marketing and selling Freddie Mac real estate owned (REO) homes.
Through HomeSteps®, Freddie Mac offers owner-occupant homebuyers the opportunity to purchase homes without competition from investors during the first 15 days of the home being listed in MLS.  You don't need to be a first time homebuyer, but you must be purchasing the home as a primary residence.  And both you and the real estate agent representing you must sign an affidavit affirming that you will occupy the home.
Investors can submit offers at any time, but those offers won't be considered until after the 15-day period set aside for owner-occupants. You and your real estate agent will know if a home is eligible for the First Look Initiative because it will be included in the MLS property listing information. If you don't have a buyer's representation agreement signed with ... more

__________________________________________________
Are you on The Rain? Grow Your Network!