Communities nationwide have implemented plans using Neighborhood Stabilization Program (NSP) funds to help rebuild their neighborhoods and revive local economies.
To support these efforts and more, Freddie Mac and New Vista announced yesterday their plans to auction hundreds of HomeSteps® REO homes to individual homebuyers. HomeSteps is the real estate sales unit of Freddie Mac and markets a nationwide selection of Freddie Mac-owned homes.
The first auction will take place in Las Vegas on April 24 and will be followed by a second auction in Southern California’s Inland Empire Community on April 25 – just in time for qualified buyers to take advantage of the federal home purchase tax credit, which expires April 30.
Under the 2009 Neighborhood Stabilization Program, homebuyers are eligible for closing costs and down payment assistance when they buy foreclosed or abandoned homes in designated communities that were hit hard by the housing downturn. This federal assistance combined with the federal tax credit could help provide buyers with a significant financial advantage.
New Vista will hold open houses on April 10 and April 17 – 18 in Las Vegas and the Inland Empire so interested buyers can tour the homes prior to the auctions. Potential buyers can also find property descriptions at www.auction.com.