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:
I know from first had experience, If you experienced the impact of the last housing crisis, now may be the right time to again buy your own home.