Editor's note: Sometimes it pays to learn from others, and in today's real estate market lessons can come at a high price. This three-part series examines hurdles for homeowners facing foreclosure, buyers who are interested in buying those foreclosed homes, as well as options for standard borrowers looking to purchase a home. (Read Part 1, "Upside down: Homeowners share lessons in foreclosure," and Part 3, "Lenders still finding ways to finance home purchases, refis.") Real estate buyers are taking note of the rise in foreclosures in many housing markets across the country, but foreclosure properties aren't for everyone, said David Levin, principal for David Levin & Associates, a Florida-based real estate consulting firm. "There are real risks in the foreclosur...
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