Freddie Mac suspends foreclosures & offers to rent homes back to owners

Daily Real Estate News March 6, 2009

Freddie Mac Launches Rental Initiative Freddie Mac is launching a rental initiative, which will give former owners and tenants of foreclosed property the opportunity to lease their recently foreclosed properties month to month.

The REO rental initiative will be managed by HomeSteps, Freddie Mac’s national real estate unit, and implemented through several national property management firms. Freddie Mac has about 8,500 properties in various stages of foreclosure.

Freddie Mac also will continue to suspend evictions through March 31 to ensure that former owners and occupants have an opportunity to explore new options available to them.

To qualify for a lease, the tenant or former owner must occupy the property and show they have adequate income to pay the monthly rental amount established by the property management company based on market rents for the area. Occupants must agree to allow HomeSteps to show the home to potential buyers during the lease period.

Source: Freddie Mac (03/05/2009)

Homesteps (Freddie Mac) listings for March 5, 2009

Here's this weeks updated information on properies listed through the Freddie Mac HomeSteps program in the Manistee County area:

NEW THIS WEEK:
Address: 4335 KETTNER RD, MANISTEE, MI - (Click for pictures)
***20 acres of land!***
Rooms: 11 Bed: 5 Bath: 2.0 Price: 122,500.00
Offered By: COLDWELL BANKER ALM RLTY & ASSOC INC

Address: 9276 MAIDENS RD, BEAR LAKE, MI
Rooms: 9 Bed: 5 Bath: 2.0 Price: 55,500.00
Offered By: COLDWELL BANKER ALM RLTY & ASSOC INC

Address: 1126 21ST ST, MANISTEE, MI
Rooms: 7 Bed: 3 Bath: 1.0 Price: 19,900.00
Offered By: COLDWELL BANKER ALM RLTY & ASSOC INC

Address: 4666 CHIPPEWA HIGHWAY, MANISTEE, MI
Rooms: 8 Bed: 3 Bath: 3.0 Price: 146,450.00
Offered By: COLDWELL BANKER ALM RLTY & ASSOC INC

Loan: 280216947 Address: 17417 5TH ST, WELLSTON, MI
Rooms: 5 Bed: 2 Bath: 1.0 Price: 24,900.00
Offered By: COLDWELL BANKER ALM RLTY & ASSOC INC

Give me a call at (231) 723-5310 or email me if you would like additional information on any of these properties. We have many more forclosure homes in the area, as well as lots of great deals and bargains on the water!

Megan Kempf
Coldwell Banker ALM
Meagan@MeaganKempf.com
http://www.manisteeforeclosures.com/
231-723-5310 direct
231-510-5572 cell

** Please note: I am not the listing agent for any of these homes, however I can provide you information and show you any property listed by any real estate agent.**


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