Buy Your Next Home From The Government

According to an article on MSN.com, more than 3 million homes have been seized over the past five years from delinquent borrowers. Most homebuyers think that banks are the only source they can buy home foreclosures from, but the Jacksonville movers found out you can also purchase foreclosed homes from the U.S. government. The U. S. government owns many properties because of its role in buying and guaranteeing mortgages. Many of these homes are held because of the conservatorship over the government-sponsored Freddie Mac and Fannie Mae. Freddie Mac owns about 45,000 multi-family and single-family homes as of the end of 2009. These homes are valued at about $5.13 billion. Freddie Mac got these homes by being the highest bidder at foreclosure auctions and is now wanting to sell them. The All My Sons of Jacksonville movers found out that these formerly-foreclosed homes are being marketed through HomeSteps which allows buyers to search by state and city.