All the financial consultants are giving tips regarding how to save and cut expenses in this financial difficult times. It is true. But on the other hand, there are great bargains for consumers. Buying REO (bank owned) properties is a good one, and using Freddie Mac’s SmartBuy promotions is another plus.
Freddie Mac at the beginning of the year purchased lots of defaulted properties and now they re-appeared in the market as bank owned (REO ) properties on MLS Multiple Listing Services). The Smart Buy is a program that a home buyer, who purchase a Freddie Mac’s property between July 17 to October 30 this year, and close escrow by December 31, the bank (Freddie Mac) will pay a one-time NRCC (Non-recurring cost) of 3.5% of the selling price plus a two-year Home Protect home warrenty program.
This is a fantastic news for home buyers who are just a little bit short of closing money and also bought a battered house with broken applicances. In Bay area, it’s a golden opportunities for buyers who have been sitting on the side lines and couldn’t get in. Now it’s the time. This is a limited offer, with interest rates are still at 40-year low. If you don’t get in right now, when do you think you will?
For more information please check the Freddie Mac’s Smart Buy web site.
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