But Freddie Mac now claims it has discovered a new type of fraud, perpetrated by homebuyers who fail to disclose the amount of resale value. Think of a potato farmer suing McDonald’s for not disclosing the price of french fries, and you get the idea.
Freddie officials are careful not to say failure to disclose the resale price illegal. Why? Because it’s not. Still, earlier this year Freddie imposed a ban on resales of distressed properties by professional home buyers. Which begs the question: how can Freddie tell a buyer what to do with a property once it is sold