Know and understand the six key steps.

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.

"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 ...

Carol M. Kopp edits features on a wide range of subjects for Investopedia, including investing, personal finance, retirement planning, taxes, business management, and career development. Doretha ...

With home prices near all-time highs, many would-be buyers have been priced out of the market. For them and anyone else looking for a potential bargain, a foreclosed home could be the solution. For ...