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I recently discovered about the foreclosed homes for sale and i was really surprised to see the prices of them. It was between 100,000$ -150,000$ , which are not so bad at all for those houses. So i was wondering why are many Americans ( i am from europe) losing their houses and cant buy those affordable ones? OR there are many dangerous scans with foreclosed homes? Is it safe to buy a house based upon online websites of foreclosed homes? ( of course, we would talk and meet with those people in person)

Thanks for the opinion!

6 Thoughts on why dont so many people have houses, when there are affordable foreclosed homes?
  1. Reply
    Caveat Emptor
    February 16, 2013 at 7:00 pm

    Because they can’t qualify for loans to buy them.

  2. Reply
    Bryon
    February 16, 2013 at 7:52 pm

    most people dint realize this and even with for closed home these days. money is a very tight thing .

    and most people don’t realize but homes can be bought cheap if you look for it the right way.

    but in the us today, money si extremely extremly tight.. so most peoples options are limited!

  3. Reply
    Mark
    February 16, 2013 at 7:57 pm

    $ 150.000 for a house?

    the previous owners trashed the house….ripped up tiles…made huge holes in the walls…destroyed EVERYTHING…it takes another $ 150,000 to fix the damage

    http://www.youtube.com/watch?v=Xz4a0tBNJaA

  4. Reply
    wizjp
    February 16, 2013 at 8:18 pm

    Because most of these peope were the ones foreclosed on in the first place because they do not qualify/can’t pay for a home yet.

  5. Reply
    Mr. Fix-It
    February 16, 2013 at 8:56 pm

    When our economy was good Banks handed out money like water and home prices skyrocketed…Many of these loans were variable based on the state of our economy…We tanked out and the loans ballooned at the same time property values dropped…Many people found themselves in dire condition…We call it being underwater….Now with the flood of foreclosures—values remain low at the same time banks tighten up lending practices and our unemployment rate hovers at 10%..As far as foreclosures-never pay for a list and be sure to look at what you are interested in carefully…I have seen many a home in Florida that was 200K a few years ago going for 50K.—-Problem is-not a job to be had in that area.

  6. Reply
    Simpson G
    February 16, 2013 at 9:42 pm

    I know that a lot of non-Americans think that Americans just have piles of cash laying around to do with what they please, but this is very very far from the truth.

    To be able to buy a $ 100,000 house, the person must have good credit and income of at least $ 30,000 a year, and have decent debt. When the national unemployment rate 10.2% and many of those who are employed make very little money, it’s impossible for many people to get a mortgage.

    Folks haven’t saved their money, haven’t cared for their credit, and have kids too early and without being stable. It’s impossible to get a loan to buy that home when this is the case.

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