Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Who profits from foreclosure?

Businesses and property owners are leveraging bargain-basement housing prices, making money on properties that have plunged in value and have been repossessed.

1 of 4
BACKNEXT
The wave of foreclosures continues
Despite efforts to curtail foreclosures across the U.S., the nation is still in the midst of a foreclosure crisis. In 2010, foreclosure activity increased in 149 of the nation's 206 metropolitan areas with a population of 200,000 or more, according the foreclosure tracking company RealtyTrac. Last year, more than 2.8 million homes in the U.S. had foreclosure filings.

But one man's loss is another's gain. Foreclosed homes are often up for sale at bargain prices. Some businesses and property owners have used that to their advantage and are finding ways to turn a profit on properties that have depreciated in value and have been repossessed by banks.

While real estate sections in newspapers across the country are filled with ads for homes that are being foreclosed on, many banks opt to sell properties on the auction block.


NEXT: Some benefit from bargain prices
Last updated February 09 2011: 9:51 AM ET
  • Find Homes for sale
    Real estate and homes for sale on Trulia

  • Property Type
  • Find a home in:
  • New York | Atlanta | Chicago | Los Angeles
  • Washington D.C | Houston | Philadelphia | More options
More Galleries
World's Top Employers for New Grads For an exclusive CNNMoney list, research firm Universum Global surveyed business students at colleges around the world to see where they most want to work. More
Brexit voices: In or out? CNNMoney speaks to British people to find out their views ahead of the referendum on EU membership. More
10 key facts about the U.S. economy Unemployment is down, gas is cheap and America is growing. But just how strong is it? More

Special Offer