Are you a "boomerang buyer?"

Over the past several years, 1.5 million homeowners suffered financial hardships that caused them to be unable to continue down the path of owning a home.  Some of those homeowners are about to become eligible to purchase real estate again - and are being affectionately being referred to as a "boomerang buyer."   If you are one of those homeowners who was negatively impacted by the real estate crash - and you want to know if you can buy a home again - give me a call and I can recommend a fabulous mortgage professional to help you answer that question.




TransUnion recently released the results of a new study titled “The Bubble, the Burst and Now - What Happened to the Consumer?” The study revealed that 1.5 million homeowners that were negatively impacted by the housing crisis could re-enter the housing market in the next three years.
TransUnion defined “negatively impacted” as…

“…those who were 60+ days past due on a mortgage loan, lost their mortgage through foreclosure, short sale or other non-satisfactory closure, or had a mortgage loan modification between the Bubble and Burst.”

Other interesting findings in the study:

• During the mortgage bubble in 2006, 78 million consumers, or 43% of credit-active consumers in the U.S., had a mortgage
• More than 8% of these consumers were “impacted”
• 5 Million consumers will again be eligible for a mortgage in the next four years

Here are the numbers of consumers who will meet mortgage guidelines over the next four years:

Bottom Line

If you are a family that experienced the impact of the last housing crisis, now may be the right time to again buy your own home.