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They already have. It depends where you live. With lower housing prices though we have Higher Interest Rates.... prices aren't going to drop that much there will be a major foreclosure issueWill my house be repossessed?
Yes, in many areas thay already are falling. You might try and find an investor that buys foreclosure homes and see if they have any for sale.
I would not advise you to go buy a home at a foreclosure sale unless you have some expertise as that is a risky proposition. If you do, find a good real estate lawyer to help guide you.
But, there probably is someone in your area who professionally buys foreclosed homes and re-sells them. Generally, they buy teh homes at a discount and may have lower pricing.
Also, look for places offering lease options.Do I put in the sale price of the home or a lower bid?
Now! Watch the interest rates and the origination fees. Stay away from interest only and subprime loans.Are Houses Still Selling Above Asking Price?