I get calls all the time from prospective home buyers, that have previously lost a home in the past through foreclosure or a short sale. Most of these individuals have gotten their financial situations in order, but restrictive regulations are not allowing them to buy.
Loss of a job and illness have happened to many families, so how long do we restrict them from becoming homeowners again? Many have worked hard to repair or establish new credit, putting their financial house in order and others have gotten new jobs that produce a good livelihood. How long is long enough before these folks can own a home again?
Study: Defaulters Having More Trouble Returning to Mortgage Market
By: Tory Barringer
