yahoo: 5 Ways to Find Deals on Foreclosed Homes
- 07/08/08 02:17 PM
It's harsh but true: You can benefit from others' misfortune. The rise in foreclosures means that those in the market to buy a home can find great deals on houses that have been reclaimed by lenders. They are often sold for prices well under their market value because their owners are eager to unload them. The cheap prices do come with potential downsides: Some homes have liens against them or mortgages associated with them, which can be inherited by their new owners. It can also be hard or impossible to inspect such homes in advance of their sale, which means there's … (5 comments)
It's harsh but true: You can benefit from others' misfortune. The rise in foreclosures means that those in the market to buy a home can find great deals on houses that have been reclaimed by lenders. They are often sold for prices well under their market value because their owners are eager to unload them.
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