Reuters produced this foreclosure-fiasco-for-dummies infographic, which notes that in 2Q 2010, one in four home sales were purchases out of foreclosure. The problem with clearing this real estate now is clearing the titles, which have been sucked wholesale into the vortex of documentational malpractice. This presents an unbelievable opportunity for new-home sellers. You want a home that you know you can own outright, free of all that legal mumbo-jumbo that could come back to haunt you? Buy new. End of story.
Read more...