Freddie Mac Plans REO Auction Blitz

Freddie Mac announced an auction blitz to sell REO properties.  The timing of the sale is to allow buyers to take advantage of the soon to expire tax credit for first time home buyers.  The sale apparently only covers Las Vegas and California’s Inland Empire.

Freddie officials announced Thursday that in conjunction with the California-based asset management firm New Vista, the mortgage giant plans to auction off hundreds of HomeSteps REO properties to individual homebuyers in Las Vegas on April 24 and in California’s Inland Empire on April 25. HomeSteps is the real estate sales unit of Freddie Mac and markets a nationwide selection of Freddie Mac-owned homes.

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Real estate investor
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