A firm which has specialized in helping consumers escapeunderwater mortgages is finding their former clients open toreturning to the market again.

YouWalkAway.com has been in business since 2007 and claims tohave helped 6,000 to 7,000 consumers minimize damage to theircredit scores as they abandoned property they could no longerafford, a process known as strategicdefault.

Now the firm has discovered that far from being averse to themortgage market, almost 80% of its former clients surveyedexpressed a desire to purchase another home within a year afterlosing the first one in a foreclosure, short sale or deed in lieu of foreclosure.

The San Diego-based company has launched an application thatcontains a survey which aims to help consumers who have lost theirprevious home get a better understanding of when and under whatconditions they might be able to rejoin the housing market.

“There needs to be a way for people to easily see if they areeligible to buy again,” said former CEO and YouWalkAway co-founderJon Maddux in a prepared statement about the application.

“Millions have experienced the unfortunate event of foreclosure,but that does not mean that they should be discouraged frombecoming homeowners again in a more stable environment, or thatthey should be disqualified from doing so,” Maddux said.

“With historically low interest rates, mortgage payments oftenrival rental rates. The ability to lock in these reduced rates putsmore money in consumer pockets and, ultimately, lends to overallrecovery. It's a win-win and its accessibility needs to be madeclear,” he said.

The firm said the application at AfterForeclosure.com hasalready been downloaded about 2,000 times and that 30% to 40% ofthose users have found they could re-enter the buying market.

“It is important to note the primary reason why buyersdon't pass is because they haven't had enough time pass since theforeclosure or short sale,” Bethany Branscum,

director of operations for YouWalkAway, wrote in response to aquestion about the application. “Most borrowers need at least 36months after the foreclosure and 24 months after the short sale inorder to pass the app.”