buying a house in foreclosure

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Lots of houses are now available for alot less money than in the past ten years. And many are in foreclosure and available for sale through banks and sheriff sales. Have you bought a house through these offers? Would you? In a way I think I'd be taking advantage of someone's misfortune. But in another way I've always wanted a home of my own and this may be the only way I will ever be able to afford one. I'm thinking about it. I'd love feedback on this idea, especially from anyone who has been part of such a transaction.