It's really unfortunate that Freddie Mac still won't accept contingencies based on a client's home selling even in this market in California. Just goes to show you the banks will still play by their own rules. They would rather take a cash offer from an investor that will just flip the house. When they could open up the opportunity to good local buyers that want to make it a home.... more
Freddie Mac foreclosures are homes that have gone into default and been returned to the FHMLC. They are usually cheap homes for sale, as government foreclosures are generally priced well below market. Additionally, Freddie Mac foreclosures are usually incentivized with low rate mortgages and low closing costs.
There are a lot of factors playing out in the market place. The banks have been working through the bubble. I hope that time works to the advantage of the individual buyers and sellers. But history will be the final arbiter. Good luck to all of us. Patience and discipline.... more
This happen to me in lake bluff in 2008 and i requested and they paid for after (Credit) ....ask nicely to the listing agent no Attorney , depend of the listing agent and his recommendations to freddie... more
You should add a CONTINGENCY on anything that could substantially affect the Loan or the Property:
This is to protect you from buying a "lemon".
Don't let anyone BULLY you about about CYA.... more