Here's a map from our local paper http://www.startribune.com/projects/foreclosures/ It shows the foreclosures down to the city/street level. It's crazy! They're everywhere, especially in north Minneapolis. There 4 just in my general neighborhood!
Its a very sobering story that also accompanies that article! I feel sorry for her to come degree but you have to do your own due diligence...something and unsophisticated investor sometimes fails to do or draws too heavily when trusting so called professionals...
although I'm not familiar with buying real estate in the US but surely at some point she would have needed some impartial legal advice somewhere in the buying process that should have flagged this scam up?
Yeah, it's a sad state of affairs here. I know 4 people trying to sell their houses and not one of them has been able to do so. All of them have had their house on the market for atleast 6 months and have dropped their prices many thousands of dollars. I'm just glad nobody is really needing to get out of their house.