Affluent defaulters have trouble finding new financing

Well-to-do homeowners who were foreclosed on in recent years -- including those who defaulted intentionally -- and are looking to buy property again face long waiting periods, higher down payments and higher interest rates if they find lenders willing to work with them. Experts say lending could become more flexible next year, based on a recent rule that allows some borrowers to be eligible for new loans as soon as one year after foreclosure.

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