August 28, 2006
Foreclosed Properties
Foreclosed Properties
As some homeowners get squeezed by higher mortgage interest rates and a cooling real-estate market, many house bargain-hunters are turning their attention to foreclosures.
They hope to get good deals by buying from homeowners who are falling behind on their mortgages or by buying after the lenders have seized such properties.
Confirming the trend, online Web sites such as Foreclosure.com, Foreclosures.com and RealtyTrac.com, which list foreclosed properties and charge subscription fees, all report an increase in listings.
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