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Lawton, Oklahoma: A Great Little Town for Foreclosures

Lawton, Oklahoma is known for its cotton and its huge granite deposits. It was founded in 1901 when the last of the Indian Territories were opened up by the United States government. The city is a great place to live for various reasons. First of all, the cost of living is 21% below national average and the unemployment rate is only at 4.4%, compared to the national average of over 9%. Currently, there are 524 homes for sale, 224 additional foreclosure listings and 50 pre-foreclosure and auction homes. This means that 1 in every 413 houses were in the process of foreclosure in August, 2010. On the upside, though, the median home value is $108,000.