| The new $700 billion dollar government bailout is | | | | great possibilities for the would-be home buyer looking |
| evidence of the upset surrounding the current real | | | | for a good deal. As lenders are anxious to recover the |
| estate market. With national sales on a stable decline, | | | | losses of a seized property, banked owned homes |
| many consumers with adjustable rate loans have | | | | can generally be bought at lowered prices. |
| found it progressively more and more difficult to sell | | | | In most cases, the bank that owns a foreclosed home |
| their houses and pay higher mortgages, key issues | | | | only needs a fraction of the balance to settle the debt |
| that have caused the amount of foreclosures to | | | | on a mortgage loan. This means that bank owned |
| skyrocket. Although foreclosures are very regrettable | | | | homes are typically available at up to 50 percent off |
| for the owner in peril of losing a home, they present | | | | the real market value of the property. |