"Hearst Magazines and Yahoo may earn commission or revenue on some items through these links." Buying a foreclosed home can be a great way to purchase a house at a discounted price, whether you’re ...

A foreclosure occurs when a lender takes control over a property from a borrower who has failed to make timely payments. A foreclosure can damage your credit score and result in the loss of your home.

Buying a foreclosed home can be a good way to score a deal while hunting for real estate. A foreclosure is a house whose owners were unable to pay the mortgage or sell the property. As a result, the ...