Buyers not “Boomeranging” Hastily


Posted To: MND NewsWire

Are those Americans who lost their homes to foreclosure permanently turned off of home ownership? CoreLogic’s Senior Economist Kristine Yao looked at that question in an article on the company’s Insights Blog and found they do become homeowners again, but not as quickly as they might. She notes that the seven years that have passed since their peak of the foreclosure crisis in 2010 is enough time for the black marks of foreclosure to be erased from many consumers’ credit histories so that at least is not standing in the way of what has become known as “boomerang buyers.” More than half of the 3.1 million homeowners, 1.9 million to be exact, who lost their homes to foreclosure between 2007 and 2013 have passed the credit report seven-year rehabilitation mark. The return of these buyers to homeownership…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Show Buttons
Hide Buttons