Wow.. have you ever thought what banks do with the houses that they repossess when a person is declared bankrupt?
Did you know you can actually buy those houses as is?
Outer Banks foreclosures are basically what they call these properties. The bank takes the property when people cannot afford to continue paying for loans, and sell it out to the market.
I wonder if these properties are cheaper than normal market price. Probably not.
Urgh.. sounds scary. Having the bank take your property away.