Economists are predicting that many homeowners who suffered financial hardship and the loss of their home during the foreclosure crisis will be ready to purchase again in 2015. Purchasing a home has many perks, the most attractive being earning equity in your home. And with the way “home values are continuing to sky rocket in Colorado” now is a great time to buy and earn some equity with your new home!
Read “Boomerang home buyers are coming back” by Ben Rooney with CNN Money for more information.
Many Boomerang Buyers, or those that suffered the loss of their home during the foreclosure crisis, aren’t aware that you can be eligible to purchase again after as little as one year after the loss of your home or bankruptcy.
FHA generally requires 3 years after your foreclosure or short sale to be eligible for an FHA insured loan, there are new FHA Programs that allow eligibility to some buyers after just one year but they have higher insurance and interest rates. You can qualify for a new VA loan in just 2 years after your short sale or foreclosure. There are Conventional Loan programs that you may qualify for immediately after your bankruptcy is discharged, or your foreclosure has sold.
Read “2015 Buy Again After Bankruptcy, Short Sale, Foreclosure, or Deed in Lieu” by Scott Schang with Find My Way Home for more information.
Tatyana Sturm and The Storck Team have been honored to serve the Denver and surrounding areas in relocation real estate for the last 10 years as one of Denver’s leading short sale and foreclosure specialists. If you or someone you know is facing foreclosure, make sure you are educated on your options. You might have equity or money in your home that you are unaware of in this ever changing real estate market. Call or text The Storck Teamto explore your options with short sale and foreclosure today at (720) 350-5909. We are available 7 days a week for a consultation.