If you’ve got a bit of spare time in your home search, it would be unwise to pass up the homes that are listed right here. There are loads of foreclosed homes that cost way less than what the home next door, which is comparable, would go for. There is often times a stigma that foreclosed homes will be run down – that’s just as true about foreclosures as it is about any other home. People who previously owned a foreclosed home, likely didn’t want to lose it so they usually took great care of it. The reason why they cost so much is that the banks don’t want an inventory of foreclosed homes, they want to be collecting money on mortgages.