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from Local Attorney, Michael H. Wasserman

Thursday, January 2, 2014

Inman News: Fannie, Freddie now giving homebuyers 20-day ‘First Look’ at REOs


by Michael H. Wasserman, Attorney at Law

Starting today, Fannie Mae homebuyers who plan to be owner-occupants get a 20 day “First Look” at foreclosed homes without competition from investors. Freddie Mac has been offering the 20 day first look since December 17th.

The first look window for Chicago area properties had previously been 15 days,

Homebuyers shopping for homes can see which properties are restricted to First Look bidders in Fannie Mae’s “real estate owned” (REO) inventory at HomePath.com and for Freddie Mac REOs at HomeSteps.com  

Source: fanniemae.com and freddiemac.com.
- See more here.