SOURCE: Freddie Mac

Freddie Mac

September 19, 2016 11:00 ET

Freddie Mac to Host Sept. 24 Housing Fair Near Detroit

Free Event Includes Foreclosure Buying Tips and Bus Tour of Available Properties

MCLEAN, VA--(Marketwired - Sep 19, 2016) - Freddie Mac (OTCQB: FMCC) today announced that HomeSteps®, its real estate sales unit, and NID Housing Counseling Agency (NID-HCA) will host a home buying fair on Saturday, Sept. 24, noon-4 PM. It will be held at the Southfield Civic Center located at 26000 Evergreen Rd. in Southfield, MI.

"We know that buying a home is one of the biggest financial choices of your life," said Ray Carlisle, President of NID-HCA, a U.S. Department of Housing and Urban Development (HUD) national intermediary. "We want to help people find affordable properties and reach an informed decision. Reaching an informed decision requires knowledge of the home-buying process, the ever-changing market, and, crucially, fair and equitable access to the best products and services available. Our counselors help potential homeowners understand and survey all available home buying options, so that the result and the process are a successful experience for all involved."

Although admission is free, all attendees must register here: http://hshomebuyingfairdetroit.eventbrite.com. The first 50 registered attendees can join a bus tour of select HomeSteps homes available for purchase in Wayne County.

The staff of NID will provide information sessions on how to buy a home, apply for a mortgage loan, receive down payment assistance, and locate renovation resources.

"We're grateful to NID for partnering with us to help expand home ownership in the region," said Danny Gardner, Freddie Mac's vice president of affordable lending and access to credit. "For people who are considering whether they're ready, this is a great opportunity to learn about the requirements and processes necessary to become a homeowner. Interest rates remain reasonably low while rental rates continue to rise so now is a good time to take the leap."

All homebuyers who attend the event and ultimately purchase a HomeSteps home will be eligible to receive up to 3% of their closing costs paid by HomeSteps. Additionally, selling agents representing those homebuyers will be eligible to receive a $1,000 incentive.

For more information, interested parties should email HomeSteps_Marketing_Communications@FreddieMac.com.

HomeSteps® is the unit responsible for marketing and selling Freddie Mac real estate owned (REO) homes to homeowners and investors.

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for approximately one in four home borrowers and is the largest source of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog.