Foreclosures, short sales, and bankruptcies are set to fall off credit files of 2.5 million consumers between June 2016 and June 2017, according to analysis from Experian.
Yes, you read that correctly! Many do not know about this program offered by FHA called the “Back to Work Program.” Here is info from FHA’s Mortgagee Letter that must be met to qualify. This program is great for those in Fort Lauderdale and South Florida since we experienced so many foreclosures, short sales, and bankruptcies.
That was the headline from a WSJ.com article and they are 100% correct. Some refer to these buyers as Boomerang Buyers.