So I'm looking to buy a home, which will be my third home I've bought in my life(I move about every 5 years). I usually don't have any trouble paying for the home, or getting the mortgage for it, but I'm looking for a 5 year fixed rate mortgage.
I was looking through some listings, when in popped in my head that a foreclosed home might be cheaper than a home that is sold traditionally by the seller. Is this idea true. If so, is the process easier, or would it be more difficult to obtain? Is there any other way I could get foreclosed home besides a foreclosure auction?
I'd appreciate any advice, or comments on my idea!