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Making a foreclosed house a home

12:40 PM CST on Sunday, November 18, 2007

By Rosa Flores / 11 News

Rosa Flores' 11 News report

It might sound like a game of numbers, but bidders who play their cards right could have a new home in minutes.

“Some of these homes have been in the market for a while,” said Joe Joffroin, Real Estate Disposition Corporation.

The homes are foreclosed, and they go quickly.

“We really try to bring interested buyers that are ready to close on these properties right away,” Joffroin said.

Buyers like Marvin Fox.

“We appreciate winning and we appreciate the help,” Fox said.

Unlike the other bidders, Fox purchased the home he’s currently living in.

He was renting it when it went into foreclosure.  He was told he had to move out.

“That’s a big problem. You know, my wife is handicapped and it’s very difficult to pick up and move,” Fox said.

In Texas, more than 151,000 homes have been foreclosed this year – more than 14,000 of those are in Harris County.

And in Houston, more than 8,000 homes have been foreclosed.

Saturday, 230 Houston-area houses were up for bids.

Some sold for more than others.

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