Families who had once lost their home to foreclosure following the housing crash are now re-emerging and looking to buy again, The Wall Street Journal reports.
As Stuart Miller, chief executive of national homebuilder Lennar Corp., puts it: More people are “coming out of the penalty box.”
Some builders have a growing interest in reaching out to these “boomerang” foreclosure buyers. For example, builders like K. Hovnanian are providing sales staff with fliers that detail mortgage eligibility rules for families who have undergone a foreclosure or bankruptcy. Read more....
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