The mortgage crisis has passed, credit histories have been repaired and, as a result, snake-bitten buyers are looking to restore the American Dream of homeownership sooner rather than later.
Boca Raton, Florida (PRWEB) January 23, 2014
"Foreclosure victims" have slowly transformed into "boomerang buyers," eager to re-enter the recovering national housing market before it completely corrects.
What’s the best way to approach these sensitive situations?
Foreclosure.com today announced that its successful scholarship program will return for a sixth consecutive year in 2014, rewarding five more college students across the United States with a share of $9,000 to put toward their higher educations.
Scholarships will be awarded to eligible college students who can best provide a solution(s) to its latest essay topic for 2014. The subject of the 2014 Foreclosure.com Scholarship Program is as follows:
"The foreclosure crisis that swept the nation several years ago claimed countless well-to-do homeowners, who were forced out of their houses when the economy hit rock-bottom. Those victims, along with the economy, are now beginning to slowly recover. And with collective home prices — and interest rates — still at very attractive levels, these 'foreclosure victims' have transitioned into potential 'boomerang buyers.' How can these buyers with checkered pasts best take advantage of the current desirable real estate market conditions? There are a several actions these 'boomerang buyers' can take to get back into home ownership. Please describe in your own words how the ‘rent-to-own’ option, among others, might best benefit these folks until they are ready to go 'all in' on another mortgage."
Foreclosure.com, which received thousands of entries from students throughout the nation in 2013, will accept written essays/action plans (800-word minimum, 2,000-word maximum) through its website (http://www.foreclosure.com/scholarship/) from Jan. 15, 2014, to Dec. 15, 2014.
Five winners will be selected by a third-party panel of judges at the conclusion of the contest and will share $9,000 in allotted scholarship funds. The top prize is a $5,000 scholarship and four $1,000 grants will be awarded to the runners up.
"The mortgage crisis has passed, credit histories have been repaired and, as a result, snake-bitten buyers are looking to restore the American Dream of homeownership sooner rather than later," said Foreclosure.com Scholarship Coordinator, Jacquelyn Marks. "However, the mortgage industry has undergone major changes over the years, making it harder to secure conventional home loans. Nonetheless, based on their devastating experiences in the past, many ‘boomerang buyers’ are much more cautious, looking for safer long-term solutions. And we are calling on the academic community to provide them through our annual scholarship contest."
In addition to the five cash prizes in the form of scholarships, totaling $9,000, these investment plans will be featured on Foreclosure.com for the entire year. All students must read and agree to the scholarship rules, which are located on the Foreclosure.com contest page (http://www.foreclosure.com/scholarship/), before submitting their entries for review.
Foreclosure.com introduced its scholarship program in 2009. Since that time, the company will (or has) award(ed) 25 deserving college students throughout the United States with a total of $45,000 in scholarship money to date.
For complete details and submission requirements/instructions for the 2014 Foreclosure.com Scholarship Program visit http://www.foreclosure.com/scholarship/.
With more than 2 million preforeclosure, short sale, foreclosure, Sheriff sale, foreclosure auction, bank repossessed (bankruptcy), HUD homes, foreclosed homes for rent to own and tax lien listings in one place, Foreclosure.com delivers America’s largest and most accurate searchable database of distressed real estate and investment property information. Based in Boca Raton, Fla., Foreclosure.com works directly with hundreds of top lending institutions and government agencies to list diverse property types on its website, as well as features listings from an extensive network of corporate sellers. As a result, the company has been recognized by high profile media outlets and prestigious non-profit industry groups alike as the number one rated distressed property listing resource available anywhere. Foreclosure.com offers much more than just real estate listings, connecting sellers, buyers and agents in one convenient location as a one-stop real estate marketplace.