Buyers Back After Foreclosure

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Buyers Back After Foreclosure

Buyers Back After Foreclosure

Fool me once, shame on you; fool me twice, shame on me!!

If you blamed it on fraud the first time around…no excuses the second. Especially if a machine is involved with your title.

WSJ-

Millions of families lost their homes to foreclosure after the housing crash hit six years ago. Now, some of those families are back in the housing market. Call them the “boomerang” buyers.

It is difficult to quantify the exact number of boomerang buyers, but real-estate agents, mortgage brokers and home builders all say a significant number of new buyers are families and individuals who went through foreclosure as recently as three years ago, the time period that buyers who defaulted on a mortgage must typically wait before becoming eligible for a mortgage backed by the Federal Housing Administration.

[WALL STREET JOURNAL]

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CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

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One Response to “Buyers Back After Foreclosure”

  1. Sarah says:

    Boomerang right back into debt, with only that pesky 3 year waiting period getting in the way of things. Hmm.

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