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Yes, you can definitely purchase a foreclosed home. Rather a lot of consumers purchase foreclosed homes at a cheap price. You can reside in a foreclosed home or can use it as an investment.
Yes this is definately the time to buy foreclosure, but remember prices are that low for a reason, avoid areas that are on the way down, do copious amounts of research first, ensure the area has jobs closeby, people willing to live and rent there and that the property you are buying does not have too many existing loans against it:
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