“South Florida housing experts are trumpeting changes that allow foreclosure sufferers to buy back into the American Dream sooner than they probably imagined, calling 2014 the year of the ‘boomerang buyer.’ Revisions made over the summer to Federal Housing Administration (FHA) guidelines and technical updates in November to Fannie Mae loan approval systems have opened the door for some former homeowners to buy again just one year after foreclosure. Jupiter mortgage broker Skip McDonough and Jon Maddux, co-founder of AfterForeclosure.com, said the boomerang buyers are necessary to maintain a growing economy as other drivers fade.”
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