Buying a bank foreclosure home can save you thousands of dollars or be a great investment if you are able to flip the house for a profit. Right now the real estate market is a very rocky state due to the economy and the amount of people defaulting on their loans and trying to avoid a foreclosure by doing a home mortgage short sale (selling your home for less than the amount you owe). These days, lenders have become quite weary and require private mortgage insurance (PMI) which you will most likely run into if you are in the market. PMI is something where the buyer pays a premium on but the lender is the beneficiary and it protects them if you default on the loan. There’s no other business like real estate that can make you so much money in such a short a time…unless you’re big-time drug dealer or thief! In fact, most millionaires started out in real estate than in any other business before making their fortunes. If you’ve been thinking about investing in real estate, there really is no better time than right now to jump in and wait out the slump!