This CNN Money article points out how many who lost their homes to foreclosure and short sales are taking a fresh start at home ownership. Borrowers who lost homes to foreclosure during the housing bust are starting to buy again. Since the housing bubble burst, 4.8 million borrowers have lost their homes to foreclosure, and another 2.2 … More Boomerang Buyers Return to Market After Foreclosure
According to Bloomberg News, it is becoming clearer that the better way for lenders to deal with defaulting borrowers who are underwater on their mortgages is to offer them a reduction in the principal on their loan as opposed to lowering their interest rate. Doing so restores the feeling of equity for the homeowner. The … More Foregive Debt and Save The Housing Market.