More REO Incentives, This Time $1500 for Realtors

Freddie Mac has joined Fannie Mae inrnoffering limited time and location inducements to move sales on its owned realrnestate (REO).  The company today rolledrnout sets of incentives for listing and selling real estate agents and for homebuyers.  Fannie Mae announced its incentive programrnlast week.  </p

(Read More: Fannie Offers REO Incentives to Owner Occupants)</p

FreddiernMac will pay a $1,000 bonus to selling agents and a separate $500 incentive tornlisting agents who sell a home through the company’s HomeSteps program.  For homeowners there will be $500 that can bernused to pay condominium fees, floodrninsurance premiums or to purchase a home warranty.  </p

To be eligible for either agent orrnhomebuyer incentives, the home must be located in one of 23 target states andrnoffers must be received between February 18 and April 15.  The transaction must close by May 31,rn2014.  Only owner occupied first or secondrnresidences are eligible and the promotion does not apply to investor purchases,rnauction, sealed-bid sales, or bulk sales.  </p

Chris Bowden, Senior Vice President,rnHomeSteps said, “HomeSteps’ 2014 winter sales promotion is focused on<bfiring up sales in 'cold weather' states and condominium deals everywhere. Withrnmortgage rates still low and home inventories tightening, the 2014 HomeStepsrnWinter Sales Promotion is a great opportunity for families ready to buy andrnreal estate agents ready to sell.” </p

States where the 2014 HomeStepsrnWinter Sales Promotion is now active include Alabama, Connecticut, Colorado,rnIowa, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota,rnMissouri, North Carolina, New Jersey, New York, Ohio, Pennsylvania, SouthrnCarolina, Tennessee, Utah, Virginia, Washington, and Wisconsin. </p

Fannie Mae’s program is morerndirectly targeted to homebuyers who can receive up to 3.5 percent of the loanrnamount toward closing costs if they buy a home through its HomePathrnprogram.  Fannie Mae is offering thernprogram for offers received before March 31 and is targeting 27 states, 12 ofrnwhich are also eligible for the Freddie Mac promotion.    

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