foreclosure lists: Foreclosures for PENNIES on the DOLLAR?
- 05/19/10 12:25 PM
You have, no doubt, heard the claims on radio, on late-night TV, and maybe even at the coffee shop! Yes, it's true. You probably can buy a foreclosure for pennies on the dollar, but that may be 95 pennies on the dollar!"But that cannot be, because everybody knows that foreclosures are such a good deal," you may say. The truth is that foreclosures usually are a good deal, but the "pennies on the dollar" myth is way overblown. Foreclosure properties are appraised before they are priced for the market, and they list at a somewhat discounted, but reasonable, price that … (3 comments)
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