6 tips for boomerang buyers of homes
Tips for boomerang buyers
Folks in the housing biz love people who want to buy homes. And these days, many real estate and mortgage brokers feel especially fond of so-called rebound or boomerang buyers: people who lost a home to foreclosure, but are now ready to buy again.
The chief attraction is strong motivation, says Kent Temple, broker/owner of Keller Williams Realty -- The Temple Team in Mooresville, N.C.
"If you've been through a foreclosure, you've already been a homeowner," Temple says. "You know what it's about. You know the process. You've been through hell sometime in the last seven years, and if you really want to buy a house, you are so willing to do whatever it takes."
With that in mind, here's a look at what rebound buyers need to know before buying a home after foreclosure.