The successive waves of foreclosures rippling through the economy are more acute in some markets than others, and some markets have some extra special problems that come along with their foreclosures. Banks are not just taking possession of homes in these regions, they are taking possession of environmental disasters that need to be cleaned up. Buyers purchasing foreclosure homes as-is may be in for some nasty surprises on their home inspections, if they’re lucky. If they’re not, they might not discover the problems until after the situation is a done deal.
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