September 28, 2015

Teaming Up in Tampa

Together with the Florida Minority Community Reinvestment Coalition (FMCRC), we are helping to make the dream of homeownership a reality for families in Florida.

The FMCRC is focused on empowering low-income and minority (LMI) communities by attracting investment. In housing, that means helping to close the prominent the homeownership gap between minorities and white Americans in Florida. One of the ways they are doing so is by facilitating the construction of new housing in LMI neighborhoods to replace distressed REO homes.

In Tampa, these efforts have raised home values by more than 30% in two LMI communities and provided much needed housing.

One of Freddie Mac's former REO homes is now a newly constructed home for these first-time homebuyers and soon to be newlyweds, who are thrilled to have a place to call home.

Former Freddie Mac REO home becomes newly constructed home in Tampa, FL

"We are pleased to have played a small part in helping homeownership become a reality for this special couple," said Eric Will, senior director of REO sales and closings at HomeSteps – the real estate division of Freddie Mac. "Thanks to the great work of the FMCRC, we are not only helping families reach their dreams but also empowering whole communities."

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