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Member Since: 5/2006Last Seen: 11/06/2009

Tips for Buying a Foreclosed Home

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...Foreclosures went up an astounding 42 percent last year, reaching 1.2 million, according to RealtyTrac. Already in 2007, 2 million homeowners have been late making their mortgage payments

"In 2006, the average foreclosed home sold about 25 percent below market value. That is real money. You want to do your homework on both the property and the process,"

However, if there is any silver lining to this dark cloud above real estate, it is for those in the market to buy a home. But is buying a foreclosed home a safe investment?

Hobson offered a list of guidelines for foreclosure sales:



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{"commentId":697510,"authorDomain":"newsguru"}

Some good info this artcle. I've found the same to be true regarding RealtyTrac and others. It's the same info generally you can get on your own with a little work. But definitely not for the first-time homeowner or someone who's willing to learn how the process works.

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  • 1 vote
Reply#1 - Thu May 10, 2007 10:36 AM EDT
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