Professional investors and get-rich-quick seminars goers storm courthouses daily for  real estate auctions.   All are trying to find the deal yet it is getting harder to find the good ones as many homes end up in court with high and more than one mortgages with little or no equity.

You are getting into a market where there is plenty to buy, but not as easily sold as a year ago.  Nationwide, foreclosures hit a historic low last year at about 50,000 and that figure has more than doubled since then, according to property tracker Foreclosure.com.  However, historically borrowers have problems paying their mortgage within the first three to five years and more than half of the nation’s outstanding residential mortgage and home equity loans are less than three years old.  Another problem is that 24 percent of all home loans are adjustable mortgages and susceptible to rate hikes.

Already companies specializing in foreclosure buy-outs are advertising and seeing a bright future.

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