By Jann Swanson | Mortgage News Daily
Are those Americans who lost their homes to foreclosure permanently turned off of home ownership? CoreLogic’s Senior Economist Kristine Yao looked at that question in an article on the company’s Insights Blog and found they do become homeowners again, but not as quickly as they might.
She notes that the seven years that have passed since their peak of the foreclosure crisis in 2010 is enough time for the black marks of foreclosure to be erased from many consumers’ credit histories so that at least is not standing in the way of what has become known as “boomerang buyers.”
Related: New U.S. mortgage rules aim to stop wrongful foreclosures
