Buyers Coming Back into the Market in 2016
According to data from Keeping Current Matters, see below, between 2006 – 2014, over 7 million homeowners went through a short sale or foreclosure. In 2014 and 2015, over 350,000 homes were sold to return buyers each year.
In the next 5 years, there will be 2.2 million more consumers who will meet the requirements for a mortgage. Therefore it is important to know the waiting periods when you can qualify for a mortgage again, after a foreclosure, short sale or BK.