I received a referral from a local savings bank last week. The loan officer explained that their customer just didn’t fit into any of their loan boxes and hoped I could help. He called them Boomerang Buyers.
Personally, I hate that term. It puts a stigma on families that are in a predicament through no fault of their own. Boomerang Buyers are former homeowners who lost their home through foreclosure, short sale or bankruptcy as a result of the real estate crash and economic recession we've experienced in recent years. In my case, the buyers lost their business, and their home, due to the downturn in the construction industry in FL.
So … can I help? Each “Boomerang Buyer” is a unique situation. My new clients have already been home owners; they appreciate the freedom and feeling of self-worth in owning their own home; they understand the process and they are motivated.
Purchasing another home depends on a multitude of factors. In my clients’ case, it will involve a lot of research, paperwork and perhaps a little time. Both of us are committed to the task! So Yes... I think I can!.
Find out what's happening in Oxfordwith free, real-time updates from Patch.
There are many potential homeowners in this predicament. They may be ashamed, frightened that they will never be able to own a home again, wonder who would ever give them a mortgage again, … the list of feelings is endless. The sooner I have the chance to interact with these Boomerang Buyers, the better. I want to begin coaching them about how long they may have to wait to buy a home again, about their current credit situation, what they need to do to get where they want to be and how much it’s going to cost
If you know someone in this kind of situation, I will be happy to talk to them. Licensed in CT, MA, ME, NH, RI VT, NY & FL too!. I’m here to help!
