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Homeowners Set to Rebound from Foreclosures

RealtyTrac predicts a boomerang wave as seven-year credit repair period comes to an end.

By David Morrison | Updated on January 27, 2015

Over the next eight years, roughly 7.3 million homeowners who lost their homes to foreclosures or short sales during the Great Recession will pass the seven-year waiting period they needed to repair their credit and be able to purchase other homes, according to real estate data firm RealtyTrac.

This eight-year “boomerang wave” of newly eligible potential home buyers will run from 2015 through 2022 with 551,359 becoming eligible in 2015 and the peak coming in at more than 1.3 million in 2018, the firm reported.

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