Final answer:
B) 12 months
Freddie Mac requires rehabilitation projects to be completed within 12 months. This is part of the credit agreement for loans secured through Freddie Mac, which typically have 15-year or 30-year terms.
Step-by-step explanation:
Freddie Mac requires that rehabilitation projects be completed within B) 12 months. This stipulation is to ensure that renovations or rehabilitation projects on properties financed by Freddie Mac are completed in a reasonable timeframe. It is important for borrowers to adhere to these timelines as part of their agreement with Freddie Mac to avoid any potential penalties or issues with their loan.
Mortgages through entities like Freddie Mac generally have terms of either 15 years or 30 years. Credit agreements and understanding of mortgage terms are vital knowledge for securing and maintaining a home loan. Rehabilitation project timelines are just one aspect of these terms that borrowers need to be aware of.