One person's loss is another person's gain.

This invaluable guide explains everything readers need to know about finding and financing foreclosed and soon-to-be foreclosed residential properties with the highest potential return. Completely updated, this new edition reflects recent changes in the way banks and the government dispose of foreclosed properties, covers new laws, and advises how to steer clear of scams.

? First edition sold more than 30,000 copies in a year and a half

? The national residential foreclosure rate rose to from .75% to 1.16% (of all mortgages) by the end of 2006-the biggest jump in 30 years

? Foreclosures are expected to continue to increase as interest rates rise and monthly payments on short-term variable rate and interest-only loans make homes unaffordable