Foreclosures, it seems to be happening across the US. As the foreclosure rate in American worsens so does the exchange rate. The dollar is at an all time low against the Euro. Where as 2 years ago the $1.20 US Dollar to 1 Euro, today you have to spend $1.50 to buy one Euro. For us that like to travel to Europe, this can put a strain in our wallet. Can we cash in on the high foreclosure rate in America?

The Top 5 Foreclosure Cities
1. Stockton, CA = 7,116 or 1 in 31 homes.
2. Detroit/Livonia/Dearborn, MI 25,708 or 1 in 33.
3. Riverside/San Beradino, CA = 31,661 or 1 in 43.
4. Fort Lauderdale, FL = 16,595 or 1 in 48.
5. Las Vegas/Paradise, NV 14,948 or 1 in 48.

Stockton leads even depressed Detroit with 1 home in 31 in foreclosure, while for the first time all of the top 10 homes in foreclosure are have at least 1 percent of their housing inventory in foreclosure. Source: Realestatebloggers.com

Is this a great time to buy a foreclosed home?
Though considered difficult, this may be the best time to cash in on a foreclosed home. When you buy a foreclosed home, you could save 30% off the price of the home.

Before you decide you are going to go right out and purchase a foreclose home, consider the disadvantages.
1. There are probably many reasons why this home became foreclosed. Was it a meth house? Meth houses could cost up to $40,000 to fix.
2. What kind of area is the house in? Many times the area would not be one you would like to live in.
3. Will you have to kick someone out? Many times this might be a single mom living with kids.
4. Is the house even in good condition anymore? There might be plenty of repairs that need to be made.