Homeowner Associations get in on the foreclosure feeding frenzy (Diana Olick)

Diana Olick recaps the increased foreclosure activity by homeowner associations and they move much more quickly than banks. If one is a few to several hundred dollars in arrears on their homeowner association dues, they can be foreclosed on and based on her report, the association often times purchases the home for pennie on the dollar.

It'a a wonderful life out there...