For those interested in the southern states, I was just informed that the month of August had more foreclosures than the entire last year in Mobile, AL.
Te taxes there are really low and your can purchase property there for taxes year round. So ergo, if the property is in foreclosure I am sure the taxes are more than likely DUE. And we all know tax liens take precedent over the mortgage lien. So consider stepping in there and buying up some tax liens on these properties. Great investments, great properties (especially the beach fronts) and great time to do it.