Released: December 02, 2007

Foreclosure rehabbers bet on sales

Source: Thomas J. Sheeran, Associated Press [USA Today]

MAPLE HEIGHTS, Ohio — After the unpaid mortgage bills, the creditor warnings and finally the sheriff’s sale, it’s sometimes left to a handy man like Adrian Brad to clean up the mess left by the nation’s home foreclosure crisis. “I’m not trying to become a millionaire,” said Brad, a firefighter who has found a new part-time career buying and fixing up foreclosed homes. “It’s something I do.”

Most foreclosed homes are bought at auction by the lenders, get fixed by contractors who specialize in the work and return to the real estate market.

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