Foreclosures can be a solid investment

Re: 'Foreclosures are NOT bargains' (June 5)

Dear Editor:

While the current market is ripe with foreclosures, it is a sign of the times. Greed brought us here with guidelines that should NEVER have been underwritten: "I'd like a 100 percent non-owner occupied residential loan, please." If someone (tenant or owner) coughs wrong, bingo! Foreclosure.

While I agree some houses are trashed, buyers are smart enough to know which houses take too much work to bring back to par.

I think the author fails to mention this and is longing for the past. Foreclosures CAN be a great equity play for people to gain wealth -- done correctly, of course. I think the fundamentals to remember are still intact: location, price and overall value.

We will all look back on this as a bump in the road one day, and HOPEFULLY greed will not bring us here again.

Jay Orr
Agent
Synergy Realty East Inc.
Atlanta, Ga.

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