the transfer's a comin'

this from Michael Ruppert and the good folks at From The Wilderness

More Americans are losing their homes

Risky borrowing is catching up with a number of homeowners across the U.S. Foreclosures rose 45% in January compared to a year ago, and experts only expect the pace to accelerate.
By Melinda Fulmer MSN Real Estate
Friday, March 10, 2006

............And there are more drawbacks and risks to buying property at auction. First of all, most buyers will need to come up with 100% of the purchase price on the day following
the auction. Second, many times a property can’t be fully inspected, and in some states, the previous owner has the right to buy it back for what you paid within a certain period. “Like any other investment, the higher the reward, the higher the level of risk,” Sharga said. Real estate economist Tuccillo recommends that buyers educate themselves about the foreclosure process now, so they can be ready to move when they see something they like. “Start doing a lot of research and monitoring of those markets now,” Tuccillo said. With
interest rates expected to rise 3/4 of a point to a point this year, “In six months, you will be able to do more picking and choosing.” And remember, Sharga said, sometimes these properties are in trouble for a reason, whether it’s a problem with the neighborhood, or a problem with the foundation. “They may not be the property where you would want to live,” he said.
full article

hmmm......who will pick up the property? maybe they wouldn't want to live there but they might not mind being slum landlords.