Boomerang Buyers Return to Market After Foreclosure

A growing number of borrowers who lost homes to foreclosure during the housing bust are starting to buy again. Susan and Dave Edwards were able to reenter the market in December with a loan guaranteed by the Veteran’s Administration after losing their Palmdale, Calif., home in 2010. Borrowers can obtain VA-backed loans two years after foreclosure. They also can obtain loans backed by Fannie Mae and Freddie Mac five to seven years after foreclosure and FHA-insured loans three years after foreclosure or short sale. | Read More