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The Foreclosure.com Scholarship is available to currently enrolled undergraduate students. To be considered, you must submit an 800 - 2000 - word essay base on the following topic: 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.
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