Boomerrang buyers is a term recenlty introduced as buyers who are now back in the market to purchase a home after losing their home either to a short sale or foreclosure.

Many of these people are in a much stronger financial position that will allow them to buy a home. Even though they had a financial crisis, they still believe owning a home is a wise financial decision.

FHA financing is available within one year after the loss, conventional financing requires a two year wait period, and there is a funding program no waiting period.

 

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