Freddie and Fannie Allowing REOs to be Purchased by Previous Owners
By · December 1, 2014
Effective November 25th, Freddie and Fannie are now allowing previous homeowners to buy back their property for the market value instead of the high mortgage that was against it.
This should have been done originally. While I am not a fan of people pulling equity out of their homes and not having to pay it back, I believe many people got caught up in the hype of purchasing a home when the prices were over inflated.
Here's the story: