Tips for Buying a Foreclosed Home

...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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