Freddie Mac foreclosures

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Freddie Mac is functioning as one of the biggest companies acting as buyers of house mortgages. This company was created in 1970 by US government to support the rental housing. Now Freddie Mac works as a rule on the secondary mortgage markets being a GSE (government sponsored enterprise).

Freddie Mac acts according to following scheme: it gets the mortgages, later Freddie Mac unite them together to create one pool and it issues debt securities.

Freddie Mac was expected to reach the special goals, some of them are described below:

- to control the money supply in order to keep the ability of financial companies to grant loans;
- to influence the prices on housing markets;
- to save stable situation on foreclosure market.

To reach the aims mentioned this organisation works with Freddie Mac foreclosed homes. It is worth to pay ones attention that Freddie Mac doesnt keep direct contact with its clients but buys all mortgages on secondary market.

Freddie Mac became a leading organisation in three main business fields:

- providing a single family credit guarantees;
- financing multifamily credits;
- investing money, operating with Freddie Mac REO and securitizing of mortgages.

As a result Freddie Mac became the biggest organisation operating on the foreclosure markets in the USA.

Use this website to search thousands of Freddie Mac foreclosed homes including a lot of other bank foreclosure properties and government tax foreclosures

Find REO or short sale agent

To buy a REO home, the foreclosure which belongs to bank, one needs to choose the particular house he is interested in. This is the main reason to create detailed lists of REO homes available. As a rule dealing with foreclosure allows buyers to get a house, paying for it less, then normal market price.

But it happens, that prices in such kind of lists are too high or too low or maybe exactly right. If you buy real estate on foreclosure market for the first time, it is highly recommended to find a professional agent. Agents have priceless experience of dealing with REO and knowledge, which will help you to benefit from this operation. The agent should work having your interest as the highest priority.

How To Find A Professional REO agent? Try to find an agent who is busy, not one who has three or four client per year. If an agent is busy with plenty of deals it shows that he probably has a wide range of connections with sellers and buyers of REO property.