I received a few inquiries in the last few weeks from potential buyers of homes in foreclosure. All callers had one thing in common, they were expecting to save a truckload (or a car-load at least) of money in the transaction. Yes, the economy is bad, yes, there are more homes in foreclosure than previous years; but no, lenders can not sell a home for the amount of outstanding mortgage unless market value of the house is same or lower (yes, that happens in this market) than the balance of outstanding mortgage. READ MORE >> >>