Where Are The Boomerang Buyers?

About 700,000 home buyers previously shut out of the mortgage market by events such as a foreclosure or short sale--often called "boomerang" buyers--could qualify for a mortgage again this year, credit bureau TransUnion said on Wednesday. TransUnion's  report --which defined a boomerang buyer as someone who had a foreclosure, short sale, loan modification, 60-day delinquency or other similar event during the crisis--said that over the next three years, more than 1.5 million of the 7 million consumers who had such problems could meet the underwriting guidelines set by government agencies....(read more)

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