Freddie Mac owned properties are those which are owned by the Federal Home Loan Mortgage Corporation (FMLMC). When a homeowner becomes delinquent in their monthly mortgage payments, they are at risk of foreclosure. This causes Freddie Mac to repossess the home as they are the loan servicer of the property. http://ForeclosureIQ.com... more
It depends on the situation of the home owners. If they have another place to live and might not receive what they want for price on their property, they may decide to rent it out to offset some of their mortgage payments until the market rebounds. It also might depend on what type of are you live in. In 62221, there is a college and it is close to Scott Air Force Base. This creates turnover in the market for those that will only be living in the area for a short period of time.
There are options to lease with the option to buy. It is called a Lease Purchase. Over a set amount of time while paying rent, your rent money will be credited when you purchase the home.... more
It is always your decision to counter offer. It is important to know that once you make a counter offer, the potential buyer is no longer under any contract to purchase your house and can walk away.... more
Ah a bit of correction to other agents in Illinois... Written counter offers do not modify an unsigned contract. There is no contract unless contract signed by all parties. I read M Jo's other question under profile, and it appears that the seller here was trying to lower the co-op payout and part of the counteroffer. That is not right for the seller to do and this question is misleading respondents to be not put into that context. Advertised MLS compensation is not subject to negotiation.... more