TransUnion recently released the results of a new study titled “The Bubble, the Burst and Now – What Happened to the Consumer?” The study revealed that 1.5 million homeowners that were negatively impacted by the housing crisis could re-enter the housing market in the next three years.
TransUnion defined “negatively impacted” as…
“…those who were 60+ days past due on a mortgage loan, lost their mortgage through foreclosure, short sale or other non-satisfactory closure, or had a mortgage loan modification between the Bubble and Burst.”
Other interesting findings in the study:
- During the mortgage bubble in 2006, 78 million consumers, or 43% of credit-active consumers in the U.S., had a mortgage
- More than 8% of these consumers were “impacted”
- 5 Million consumers will again be eligible for a mortgage in the next four years
Here are the numbers of consumers who will meet mortgage guidelines over the next four years:
If you are a family that experienced the impact of the last housing crisis, now may be the right time to again buy your own home.
Thank you to Keeping Current Matters for this article.