Essay About Buying A Home

Owning a home, a place to raise a family and create memories. A dream that many holds close to their hearts and at one point lived the dream. Feeling the pride of ownership, having a place to raise a family, create memories and receive tax benefits. Then the day comes the economy takes a downfall, and people start to lose their jobs. Cash becomes low, not enough to pay the mortgage on the house, and then the home is foreclosed. Taken away by the banks, losing the benefits of owning a home, and forced to waste money on a rental. Wondering if there is hope of ever owning a home again. Painting walls, adding new fixtures, laying the perfect flooring to bring it altogether. Raising a family, setting up a swing set and a playhouse for the children to play on while you work on your garden. Having family and friends over for a barbecue in the backyard, are all joys of owning a home. Purchasing a home is purchasing the opportunity to make memories that can …show more content…
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