Foreclosure scandal impact: Sales dry up

The market for foreclosed homes has been hit hard due to the recent “robo-signing” scandal of the big banks.  This began when several banks acknowledged problems with their foreclosing procedures – including the issue of having employees sign hundreds of documents improperly.

Now, individuals that were investing in foreclosed properties are hesitant to purchase such properties at auction sales.  These investors fear that, due to the recent scandal, aggression of homeowners in fighting for their properties after they have gone to auction.

For more information, please review the link below to read the full article: 

http://money.cnn.com/2010/11/29/real_estate/robo_signing_impact/index.htm