New credit scores could bolster housing market

The National Association of Realtors says that the adoption of new credit-scoring models could improve the ability of borrowers who lost their homes during the foreclosure crisis to buy again….

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I call this pretty good news given the fact that almost 1MM homeowners out of a staggering 9.3MM faced foreclosure most recently according to statistics. Looks like the NAR are on to something big! It’s all about the credit ratings of homeowners now.