The Buyers are Back
This infographic has some interesting information about the return of the homeowners who lost their homes through foreclosure, deed in lieu and short sales between 2006 and 2014. It was a huge number - 9.3 million homeowners. Of those a little over 10 percent have already bought homes again and more will be able to buy in the near future. Lending standards are tighter nowadays than they were then, so some of these homeowners will not be able to buy again. Check out the numbers below and let us know what you think.
An important thing to note: Did you know that there is a whole group of "first time home buyers" that are NOT buying their first home (they have previously bought a home), but they do qualify as first time buyers? Here's the rule you need to be aware of: Anyone who has not owned and occupied a home in the past 3 years is qualified as a first time home buyer! That is terrific news as more home buyers will be able to qualify for first time home buyers assistance programs. Please share this news with anyone you know who may be thinking of buying a home that may need some down payment assistance.