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2.5 million consumers ready to rebound

A recent Experian analysis shows that about 2.5 million consumers will have a foreclosure, short sale or bankruptcy fall off their credit report between June 2016 and June 2017 — with 68% of these consumers scoring in the near-prime or high credit segments. C2T

Additional highlights include:

  • Nearly 29% of those who short-sold between 2007 and 2010 have opened a new mortgage.
  • Delinquencies for this group are below the national average for bankcard and auto loan payments.
  • More than 12% of those who foreclosed now have boomeranged (opened new mortgages).

With millions of borrowers potentially re-entering the housing market, the trends are promising for both the mortgage seeker and the lender.

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Boomerang Buyers