Unfortunately, since the mortgage meltdown, foreclosed properties have become more common. Many home buyers see this as an opportunity to find a great home for a bargain price. While foreclosures can offer some nice discounts, understanding how foreclosures work and how this affects the buyer is critical to ensure you are getting a good deal and not a disaster.
What is a Foreclosure?
First, it’s important to understand what qualifies as a foreclosure. A foreclosure is a pro