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Freddie Mac Offering Cash Incentives to Home Buyers and Real Estate Agents in 23 States

realtytoday.com | February 20, 2014

Freddie Mac, the government-backed lending giant, will reportedly pay cash incentives to home buyers and real estate agents in 23 target states, who sell or list a foreclosed home owned by the firm. The incentive will be given once the home sells, according to several news reports.

The offer comes as a winter sales promotional activity and is applicable on all homes sold through Freddie Mac's property sales division, HomeSteps, between Feb. 18 and April 15. While the listing agent of the home will receive $500, buyers' agents will receive $1,000, according to Inman News.

Home buyers will also receive a $500 cash incentive for buying a property from HomeSteps. Buyers can facilitate condominium association dues, flood insurance premiums or their home warranty with the incentive.

The promotion, however, does not apply to auctions, bulk sales, sealed bid sales and investor purchases.

"HomeSteps' 2014 winter sales promotion is focused on firing up sales in 'cold weather' states and condominium deals everywhere. With mortgage rates still low and home inventories tightening, the 2014 HomeSteps Winter Sales Promotion is a great opportunity for families ready to buy and real estate agents ready to sell," Chris Bowden, Senior Vice President, HomeSteps said in a statement.

Certain terms and conditions apply on the offer for both realtors and buyers, and can be seen here.

The offer is valid in Alabama, Connecticut, Colorado, Iowa, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Missouri, North Carolina, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Tennessee, Utah, Virginia, Washington and Wisconsin.

The lending giant hopes to take advantage of the low interest rates prevailing in the market. As of Feb. 13, the 30-year fixed mortgage rate was 4.28 percent and the 15-year fixed mortgage rate 3.33 percent.

Freddie Mac's housing outlook for February predicts that rising home prices and low income growth could bring down affordability. Check out a map here to see how your city ranks.


Back to February 2014 Archive

CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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