Google
from Local Attorney, Michael H. Wasserman

Thursday, February 20, 2014

FREDDIE, FANNIE both Offering Incentives to (some) REO Buyers, Brokers

By Michael H. Wasserman


You might not know it from a look out the window or a walk around the block just yet, but the spring real estate market is upon us, and home buyers are out en masse in Chicago searching for the right opportunities.  Everyone’s favorite semi-governmental real estate entities, Fannie Mae and Freddie Mac both seem intent on capitalizing on this now to further reduce their respective REO inventories. Each has announced new incentive packages to try to entice prospective buyers. Notable in the two announcements is the differing strategies they are using. Fannie Mae is offering fairly sizeable incentives to buyers themselves. Freddie Mac, while offering a token to buyers seems to be much more focused on motivating the sales agents that guide buyers.