Back into Homeownership - How Long Do You Have to Wait?

Welcome Home!

Over the past decade we saw home purchases rise and fall - and now it seems that we're back on the rise.  Here's why: many people who lost homes in foreclosure or who had to short-sell their home several years ago are now ready to buy again. 

In fact, according to recent surveys, 80% of people who lost their homes during the financial crisis are interested in buying again.   The good news is that a majority are reporting their debt is down and their income is up.

Sounds like the perfect formula for buying a home and getting back on track.

The biggest misconception that I run intois that they can't qualify for a loan.  But with new programs designed to help these "boomerang buyers" return to homeownership, it's definitely worth looking into.

Here's the breakdown from a Realtor.org article on the timelines that a homeowner who went through short sale or foreclosure will have to wait: