Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Texas > Houston
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 03-23-2012, 04:50 PM
 
9 posts, read 28,515 times
Reputation: 22

Advertisements

Just wondering if anyone has had any dealings with HomeSteps. Some of the homes we've look at are HomeSteps/Freddie Mac - I've researched them online but haven't found much about the actual buying process. Like how long do they take to accept an offer? And how fast do they close??

Thanks!!
Reply With Quote Quick reply to this message

 
Old 03-23-2012, 05:04 PM
 
Location: The Greater Houston Metro Area
9,053 posts, read 17,259,654 times
Reputation: 15226
I wish a pox on all of their house and kin. Get ready for hoop-jumping.
Reply With Quote Quick reply to this message
 
Old 04-23-2012, 08:01 AM
 
1 posts, read 2,205 times
Reputation: 10
Hi, My hubby and I are actually under contract now with Homesteps/Freddie Mac and we are having the hardest time with them. They do have come good qualities because they will help with repairs and closing but they will not grant extensions on closing dates. They only took a couple of days to accept our offer. Because our loan won't be finished by our closing date they asked us to sign a release to terminate our contract. If you do not do what they want you to when they want you to, they will work against you. hopefully you are not trying to buy one of their foreclosures

Last edited by lilmomma217; 04-23-2012 at 08:10 AM..
Reply With Quote Quick reply to this message
 
Old 04-23-2012, 11:02 AM
 
Location: Houston area
1,408 posts, read 4,065,713 times
Reputation: 639
Quote:
Originally Posted by lilmomma217 View Post
Hi, My hubby and I are actually under contract now with Homesteps/Freddie Mac and we are having the hardest time with them. They do have come good qualities because they will help with repairs and closing but they will not grant extensions on closing dates. They only took a couple of days to accept our offer. Because our loan won't be finished by our closing date they asked us to sign a release to terminate our contract. If you do not do what they want you to when they want you to, they will work against you. hopefully you are not trying to buy one of their foreclosures
Have you had your Realtor speak to the asset manager about it? It's been my experience that they will grant an courtesy extension if there's a hiccup with your loan that requires a few more days. If your loan isn't looking good, then they could still grant an extension, but charge you a per diem for the extension.

HomeStep and HomePath homes aren't extremely different than regular foreclosures. All foreclosures require more work than regular resales. I always try to ask for 45 days up front, instead of putting 30 days at the beginning. Loans take longer to close now, and Realtors know that.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2022 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Texas > Houston

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top