[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$ft14m0bvfja0e":3,"$ffeh0925h8cuz":35,"$fbwk2pqjjqsc7":39},{"item":4,"previous":23,"next":29},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":21,"updatedAt":22},1056,"boomerang-buyers-most-qualify-for-financing-in-2-3-years","Boomerang Buyers: Most Qualify for Financing in 2-3 Years","According to a new \u003Ca href=\"https:\u002F\u002Fwww.lendingtree.com\u002Fbankruptcy\u002Fthe-cost-of-bankruptcy\u002F\">study\u003C\u002Fa> from \u003Cem>Lending Tree\u003C\u002Fem>, Americans who have filed for bankruptcy may be able to rebuild enough credit to qualify for a home loan in as little as 2-3 years.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2018\u002F04\u002F03113002\u002F20180404-Share-STM.jpg","According to a new \u003Ca href=\"https:\u002F\u002Fwww.lendingtree.com\u002Fbankruptcy\u002Fthe-cost-of-bankruptcy\u002F\">study\u003C\u002Fa> from \u003Cem>Lending Tree\u003C\u002Fem>, Americans who have filed for bankruptcy may be able to rebuild enough credit to qualify for a home loan in as little as 2-3 years.\u003C!--more-->\r\n\r\nThis is in stark contrast to the belief that many have that they need to wait 7-10 years for their bankruptcies to clear from their credit reports before attempting to apply for either a mortgage or a personal or auto loan.\r\n\r\nThe study analyzed over one million loan applications for mortgages, personal, and auto loans and compared borrowers who had a bankruptcy on their credit report vs. those who did not to find out the \u003Cem>“Cost of Bankruptcy.”\u003C\u002Fem>\r\n\r\nThe study found that 43.2% of Americans who filed bankruptcy were able to repair their credit back to a 640 FICO® Score in less than a year. The percentage of those who achieved a 640 FICO® Score increased to nearly 75% after 5 years. The full breakdown of the findings was used to create the chart below.\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2018\u002F04\u002F20180404-STM-ENG1.jpeg\">\u003Cimg class=\"alignnone wp-image-37303\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2018\u002F04\u002F20180404-STM-ENG1.jpeg\" alt=\"Boomerang Buyers: Most Qualify for Financing in 2-3 Years | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\r\nAmericans who were able to repair their credit scores to a range of 720-739 within three years of filing were able to obtain the same financing options as those who had never filed bankruptcy.\r\n\r\nAccording to \u003Cem>Ellie Mae’s\u003C\u002Fem> latest \u003Cem>Origination Insights Report\u003C\u002Fem>, 53.5% of those who were approved for a home loan had FICO® Scores between 600-749 last month. This is great news for Americans who are looking to re-enter the housing market.\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2018\u002F04\u002F20180404-STM-ENG2.jpeg\">\u003Cimg class=\"alignnone wp-image-37304\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2018\u002F04\u002F20180404-STM-ENG2.jpeg\" alt=\"Boomerang Buyers: Most Qualify for Financing in 2-3 Years | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\r\nRaj Patel, \u003Cem>Lending Tree’s Director of Credit Restoration & Debt-Related Services\u003C\u002Fem> had this to say:\r\n\u003Cblockquote>\u003Cem>“People may think that filing a bankruptcy would put you out of the loan market for seven to ten years, but this study shows that it is possible to rebuild your credit to a good credit quality.”\u003C\u002Fem>\r\n\r\n\u003Cem>“LendingTree’s research found that very few bankruptcy filers have a harder time [obtaining a mortgage] than those who have not filed for bankruptcy.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf you are one of the millions of Americans who has filed for bankruptcy and think that you have to wait 7-10 years to make your dream of returning to homeownership a reality, let’s get together to find out if you qualify now.","\r\nIf you are one of the millions of Americans who has filed for bankruptcy and think that you have to wait 7-10 years to make your dream of returning to homeownership a reality, let’s get together to find out if you qualify now.","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2018\u002F04\u002F20180404-STM-ENG1.jpeg",false,[17],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers","2018-04-04T10:00:34Z","2018-04-03T18:39:14Z",{"id":24,"slug":25,"title":26,"featuredImage":27,"publishedAt":28,"contentType":10,"isVideo":15},1055,"what-should-you-look-for-in-your-real-estate-team","What Should You Look for In Your Real Estate Team?","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2018\u002F03\u002F26164706\u002F20180403-Share-STM.jpg","2018-04-03T10:00:24Z",{"id":30,"slug":31,"title":32,"featuredImage":33,"publishedAt":34,"contentType":10,"isVideo":15},1057,"house-prices-simply-a-matter-of-supply-demand","House Prices: Simply a Matter of Supply & Demand","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2018\u002F04\u002F03130453\u002F20180405-Share-STM.jpg","2018-04-05T10:00:25Z",{"cover":36,"open":37,"shareSpread":38},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[40,44,45,49,53,57,61,65,69,73,77,81,85,89,93,97,101,105,109,113,117,121,125,129,133,137,141,145,149,153],{"id":41,"name":42,"slug":43},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":46,"name":47,"slug":48},6,"For Sellers","sellers",{"id":50,"name":51,"slug":52},7,"Foreclosures","foreclosures",{"id":54,"name":55,"slug":56},8,"Infographics","infographics",{"id":58,"name":59,"slug":60},9,"Home Prices","home-prices",{"id":62,"name":63,"slug":64},11,"First-Time Buyers","first-time-buyers",{"id":66,"name":67,"slug":68},34,"Senior Market","senior-market",{"id":70,"name":71,"slug":72},35,"Mortgage Rates","mortgage-rates",{"id":74,"name":75,"slug":76},38,"Move-Up","move-up",{"id":78,"name":79,"slug":80},41,"For Sale by Owner","for-sale-by-owner",{"id":82,"name":83,"slug":84},42,"Featured","featured",{"id":86,"name":87,"slug":88},45,"New Construction","new-construction",{"id":90,"name":91,"slug":92},52,"Luxury \u002F Vacation","luxury--vacation",{"id":94,"name":95,"slug":96},53,"Rent vs. Buy","rent-vs-buy",{"id":98,"name":99,"slug":100},80,"Time-sensitive","time-sensitive",{"id":102,"name":103,"slug":104},81,"Outdated","outdated",{"id":106,"name":107,"slug":108},147,"Internal","internal",{"id":110,"name":111,"slug":112},148,"Do Not Autopost","do-not-autopost",{"id":114,"name":115,"slug":116},320,"Inventory","inventory",{"id":118,"name":119,"slug":120},321,"Agent Value","agent-value",{"id":122,"name":123,"slug":124},322,"Affordability","affordability",{"id":126,"name":127,"slug":128},323,"Buying Tips","buying-tips",{"id":130,"name":131,"slug":132},324,"Downsize","downsize",{"id":134,"name":135,"slug":136},325,"Economy","economy",{"id":138,"name":139,"slug":140},326,"Equity","equity",{"id":142,"name":143,"slug":144},327,"Forecasts","forecasts",{"id":146,"name":147,"slug":148},328,"Selling Tips","selling-tips",{"id":150,"name":151,"slug":152},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":154,"name":155,"slug":156},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]