But quickly you are stopped in your tracks because of the word foreclosure on your credit report. The economy is bouncing back, and home prices and interest rates are at reasonable levels, making it a perfect time to purchase a home. But with a foreclosure in your past it is holding you back from being able to purchase a home.
There are many homeowners still trying to sell their homes without losing it to the bank. Instead of just offering a sale, homeowners have started offering a program called rent-to-own. Since you do not have to perfect credit, and these homeowners look pass foreclosures from the past, it opens opportunities for people with a foreclosure to be a home owner again. The term for people bouncing back from a foreclosure is boomerang buyers. Boomerang buyers are those who lost a home to foreclosure, but are now in a position to afford another home, but need some