Foreclosure auctions are hot right now. Recognizing that deals are to be made on foreclosures, more and more first-time home buyers are attending auctions and buying their dream homes in today's real estate market. Why, you might ask? The answer is very simple: homes in foreclosure are far more affordable than homes being sold by owner. Part of this stems from the overabundance of foreclosure properties created from the bad lending practices of the early 2000's.

5,000 people knew where the deals could be had last weekend.  So many people showed up to bid on 35 Uniondale homes that room capacity was met and exceeded, prompting security to ask individuals not bidding on the first batch of homes to leave until those they were bidding on were at the podium. According to the article, more mass auctions like this one are likely to occur in other major cities across the Nation.

The rate of foreclosures spiraled out of control when the real estate market collapsed, opening the door of opportunity for foreclosure scams and defrauders claiming they could help distressed homeowners save their homes and their credit scores. Thankfully, some of these defrauders have been seized by the police and brought to justice.

If you are one of the many real estate professionals who are out of work because of the current state of the real estate market and economy and you live in or around Sacramento, California, you may benefit from attending this training expo.

Last week, RealtyStore brought you the news that Fannie Mae and Freddie Mac CEO's were being removed from their posts by the U.S. Government. To the disgust of many, both Daniel Mudd (former CEO) and Richard Syron had expected to receive multimillion dollar severance packages. The FHFA, assigned to handle the removal process, recently announced it's determination not to issue the "golden parachute" (extra money the men could use to "get by" on until new employment could be found) as part of the mens' severance packages, which also include pensions.