Over Two Million Boomerang Buyers May Buy Homes Over Next Five Years

Over two million (2.2 million) boomerang buyers may re-enter the housing market as home buyers over the next five years as their credit recovers to the point where they can obtain a home mortgage again, according to a study just released by Trans Union.  According to the study, 700,000 of those buyers will be eligible for mortgages this year alone.  Boomerang buyers are described as homeowners who lost their home in foreclosure, did a short sale, deed in lieu or had some other serious negative credit action with regard to their home mortgage, such as becoming 60 days or more delinquent.

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Boomerang Buyers

Source: TransUnion

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