Tag Archives: Buying a foreclosed property

Many analysts suggest the financial crisis in the United States began in September of 2008, and since then there have been more than 3.2 million homes foreclosed on, with Illinois having one of the highest rates in the country at 5.4 percent. Investors looking to take their cash out of a low-interest savings account and purchase income property could potentially come out ahead with a foreclosed property. They can be very lucrative investment, but buying foreclosed homes is not for everyone! Many foreclosures have been abandoned by the previous owners and could have major damage to them. Bear in mind …