A total of 1,961,894 foreclosure filings were reported on 1,654,634 U.S. properties in the first six months of 2010, a 5 percent decrease in total properties from the previous six months but an 8 percent increase in total properties from the first six months of 2009, according to the RealtyTrac Midyear U.S. Foreclosure Market Report. The report also shows that 1.28 percent of all U.S. housing units (one in 78) received at least one foreclosure filing in the first half of the year. Complete Story

Attention foreclosure rehabbers: Plenty of roughed-up repos are yours for the taking. From San Francisco, Calif., to Cape Coral, Fla., repo rehabbers are snagging discounted digs before the sector snaps back. Cash-strapped lenders, anxious to shore up their depleted balance sheets, are slashing prices and accepting lowball offers, according to investors and brokers across the county. Complete Story

It's probably just a coincidence, but a very large number of distressed properties in the nation's leading foreclosure centers are condos. Florida, California, Nevada and Arizona are filled with condos, units which in many cases now sell at huge discounts. Given vast supply, sputtering prices and interest rates around 4.5 percent, is now the time to buy investment condos, especially distressed units in distressed communities? A condominium can be seen as a form of ownership rather than as a type of property. Physically, a condo might be a detached home, townhouse, apartment flat, professional office or industrial space.