There is a fair amount of hype today about buying a home in foreclosure and what a "good deal" it is. Before you take on the risks of such a purchase we would like you to think through your decision carefully.

Many homes in foreclosure have lacked basic maintenance for extended periods of time and are in distressed condition. What may look like a "good deal" on the surface may cost you in the long run. Are the appliances missing or damaged? Have a question, and not sure who to call? What is the financial condition of the Homeowner's Association?