Foreclosures are on the Rise

With the lower interest rates of the past several years and many different loans programs to choose from; many people bought a lot more home than they could afford.
Now that interest rates are on the rise and many that took out short term ARMS, their mortgage payments could have doubled! Along with gas and electric increases, people are backing out of their loans and homes, all price points are found in the largely increasing foreclosure market. I believe that lenders banks etc. have gotten so may homes back that they will be dumping a lot of them, just beware of back taxes and repairs that need to be done, investors have great opportunity here. Great for anybody that wants to do some work and get in some great neighborhoods that have yet to appreciate to potential. There are some fab homes out there and prime for a deal!