Home buyers can take advantage of the Freddie Mac First Look Initiative which allows Home buyers to purchase Freddie Mac Real Estate Owned properties (REO) before investors as part of the HomeSteps program
Freddie Mac will offer homebuyers and select non-profits an exclusive opportunity to purchase HomeSteps homes prior to competition from investors through the Freddie Mac First Look Initiative. This on-going initiative offers owner occupant homebuyers, Neighborhood Stabilization Program (NSP) grantees and non-profits engaged in community stabilization efforts the ability to purchase HomeSteps homes during their initial 15 days of listing (30 days in Nevada), without competition from investors.
The purchaser does not need to be a first time homebuyer to be eligible provided, however, that they are buying the home as their primary or secondary residence. This program is only for REO properties owned by Freddie Mac. Contact me for more information