Boise “Boomerang Buyers” Enter the Picture

Filed in Boise by on 0 Comments

Boise “Boomerang Buyers” Enter the Picture

 “Time flies when you’re having a good time” we hear. But time can also pass quickly for those who’ve had to go through difficult times. Case in point is a million and a half borrowers who have recently experienced the pain of a foreclosure. That’s the estimated number of those who, by this time next year, will have waited long enough to again become eligible for an FHA loan.

 Anyone interested in buying a Boise home after a foreclosure has come through a tough period. The standard waiting period for an FHA-guaranteed loan is 3-4 years following a foreclosure or short sale (though individual circumstances vary). Now that the weeks and months have ticked by, this sizable crop of newly eligible prospective ‘boomerang buyers’ may soon find themselves contemplating the option of buying a home after a foreclosure.

That estimate of the size of the newly eligible was provided by Moody’s Analytics. Since they are key players in determining creditworthiness, it’s a source I trust. A chart of Moody’s count from the second quarter in 2011 (when their number was a mere 285,000) to next year’s second quarter 1,500,000 provides a convincingly uphill slope.

Still, being eligible to apply does not mean automatically qualifying for an FHA (or any other) loan. Success in buying a Boise home after a foreclosure continues to depend on the same standards that always apply. After the waiting game is over, having cured credit damage will become the prime requirement.

To increase their chances of successfully buying a home after a foreclosure, Treasure Valley prospects will have paid existing credit card and loan debts with the kind of unfailing regularity that reassures loan officers and credit analysts alike. If that hasn’t been the case, the time to begin is ASAP.

Website Zillow predicts the next most influential group of buyers will be those who are looking to buy a home after a foreclosure or short sale. Boise residents who are among them — and who are ready to make this their turnaround season — should give me a call. We can get started with the pre-approval process!
Boise homes made available in the last 7 days through IDX/IMLS updated daily.

Tags: , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *

boise idaho land for sale, new homes boise idaho, houses in boise idaho, homes in boise idaho, mls boise idaho, mls listings boise idaho, for sale boise idaho, boise idaho realtor, real estate in boise idaho, property management boise idaho, mobile homes for sale in boise idaho, boise idaho realestate, boise idaho weather, real estate boise idaho, boise idaho, boise idaho homes, boise idaho real estate listings, home for sale in boise idaho, home for sale boise idaho, mobile homes for sale boise idaho, boise idaho real estate, boise idaho home for sale, homes for sale in boise idaho, home for sale owner, home on sale by owner, homes for sale by owner boise idaho, listing home for sale by owner, homes or sale by owner, how to find homes for sale by owner, homes for sale by owner in idaho, homes 4 sale by owner, owner homes for sale, find homes for sale by owner, homes sale owner, home for sales by owner, home sales by owner,for sale by owner homes, by owner homes for sale, homes by owner for sale, homes for sale owner to owner,boise homes for sale by owner, sale by owner homes, for sale homes by owner, homes sales by owner, for sale by owner home, homes for sale by owners,homes sale by owner, sale home by owner, homes for sale by owner boise id, homes for sale owner, boise idaho homes for sale by owner, home by owner for sale, home sale owner, home for sale by owner, idaho homes for sale by owner, owner to owner homes for sale, homes for sale by owner, homes for sales by owner, home sale by owner, home for sale in nampa idaho, nampa idaho real estate, homes for sale in nampa idaho, nampa idaho homes for sale, homes for sale nampa idaho, real estate eagle idaho, eagle idaho real estate, homes for sale in eagle idaho, eagle idaho homes for sale, homes for sale eagle idaho,