The price of the house is so low due to the high rate of foreclosures in the area, that they can't resist the offer. (fatmovieguy.com)
At the current rate of foreclosure sales, judicial foreclosure states would require 111 months to work through inventories of loans that are 90 or more days delinquent or in foreclosure. (realtormag.realtor.org)
The increased rate of foreclosures has also impacted the rate of homeownership and we expect it will continue to do so in the near - term. (nreionline.com)