Foreclosures: Bargain Hunters Beware!!

Article By Cybele Weisser

NEW YORK (MONEY Magazine) - Buying foreclosures once appealed mainly to the small group of hard-core real estate investors who were willing to dig into untouchable rehab projects and wrestle with deadbeat tenants.

But in recent years, scores of self-help books, Web sites, gurus and classes have sprung up, touting the notion that buying property from distressed homeowners is not only the surest path to real estate wealth but also within easy reach of anyone with spare time and gumption.

Now, with rising interest rates and softening prices threatening to derail homeowners who stretched to buy with risky loans, the message from this movement goes, this is the year for foreclosure bargains. Or is it? (Read More!)