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Driven up by the ongoing affordability crisis<\/a>, the national foreclosure<\/a> rate reached its highest level in nearly seven years, with a handful of smaller markets, concentrated mostly in the South and Midwest, now claiming the greatest share of default listings<\/a> in the U.S.\u00a0<\/p>\n Although losing a home to foreclosure is a painful process for homeowners, it presents an opportunity for shrewd buyers and investors<\/a> looking to secure properties well below market value, provided they can navigate the unique challenges that come with them. <\/p>\n A new report from Realtor.com\u00ae<\/a> tracks the recent trajectory of foreclosures, highlighting what happens when homes become Real Estate Owned (REO)<\/a> and wind up listed by banks on multiple listing services and online platforms.<\/p>\n