Re: Boomerang Buyers
10-17-2011 11:20 AM
There is a real phenomenon of "Boomerang Buyers" - a good subject to delve into since there are many people seeking a "how to" article on re-buying. I run into "BB"'s on a daily basis, but none of them are capable of buying. It's either timing or credit issues that prevent BB's from moving forward. It's too soon for most, considering that the first run of Strategic Defaulter's were a mere 3 years ago (early 2008). The BB's will be in force late 2012 when most restrictions on getting a new purchase loan have faded.
Since prices are deteriorating it's hard to say if eligible and rational BB's are even going to take that step. I say "rational" because some BB's are fresh off of a 2 month old Short Sale asking "Can I buy again? I promise not to default this time" which is irrational at best.
I'd read the article if generated.
Thanks for reading,
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