Freddie Mac - Buyer's Closing Costs

I have a negotiator with Nationstar who is telling me that Freddie Mac won't pay buyer's closing costs in a transaction.  Has anyone else had a buyer request closing costs on a loan where Freddie was the investor?  What was the outcome?

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Replies to This Discussion

Permalink Reply by Ben Lunsford on March 26, 2012 at 1:02pm

I'm in my first short sale and having this issue.  Freddie says they won't pay any buyer closing costs unless they pay the BPO price.  In my case the BPO is at $157,500 and the buyer's best is $152,000 and they want $3000 closing.  My seller is contributing $1000.  

I'll let you know the outcome.

Permalink Reply by Tara Samney on March 28, 2012 at 11:29am
They would only do less than 1% in closing for a buyer recently. Non hafa freddie mac. Required seller contribution also.offer was at appraised price though
Permalink Reply by Robin Rowland, GRI, CSP on March 30, 2012 at 3:45am

How did it turn out for you Cameron? This morning I received a message from my negotiator that Freddie Mac only contributes to the Buyer's closing costs when they are getting an FHA or VA loan. My clients are above BPO value but getting a USDA loan. I am asking to reconsider since USDA loans are also administered by the gov't.

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