Here we go again! The feeding frenzy around foreclosures is heating up to a fever pitch. There’s a general belief that if you buy a foreclosure property, it’s a good deal. Be Careful! It may be the worst thing you could do. Generally, a property goes into foreclosure because the owner was “upside down” in the property.

Look out for Fraud in real estate. The FBI place mortgage fraud at somewhere between $986 Million and $4.2 Billion for 2006. Gee, is there a lender out there who’s not telling the truth? How do you get to that big a range? Let’s be reasonable and split the difference.