Fannie, Freddie now giving homebuyers 20-day 'First Look' at REOs

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Fannie Mae and Freddie Mac have expanded to 20 days the window during which nonprofits and homebuyers who plan to be owner-occupants can take a “First Look” and bid on foreclosed homes without competition from investors. The First Look window had previously been 15 days, except in Nevada, where a  lengthier 30-day First Look window remains in place.

Homebuyers shopping for homes in Fannie Mae’s “real estate owned” (REO) inventory at HomePath.com and for Freddie Mac REOs at HomeSteps.com can see which properties are still restricted to First Look bidders. Source: fanniemae.com and freddiemac.com.