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According to the August RealtyTrac.com foreclosure report, the severity of the "Foreclosure Crisis" depends on where you live.  Foreclosures Per Household are highly skewed towards just a few states.  The data is so lop-sided, in fact, that 41 states fall below the national average.

For shoppers of foreclosed homes, the RealtyTrac data is a true buyer's guide to Where To Find Distressed Homes.

With 1 foreclosure for every 62 households, Nevada is Foreclosure Central. Its default rate is six times the national average of 1 foreclosure per 357 households. Florida, California and Arizona are a distant 2, 3 and 4.

The phrase "Foreclosed homes" used to be a scary one. Agents were unfamiliar with distressed homes and banks weren't skilled in selling them.

Since 2007, though, gradually, both sides have grown more comfortable with foreclosures and it's now at the point where buying a distressed property is cheaper, faster, and easier than ever before.

The auction block is no longer reserved for experienced real estate investors. Today, anyone can buy a foreclosed home -- and does.  Especially first-time home buyers out looking for a bargain.

Home buyers and other "casual lookers" can use RealtyTrac's completely free 7-day trial to see foreclosed homes for sale in every zip code countrywide.  All you give is an email address and, in exchange, you get access to the full-featured search engine.  After 7 days, you can decide whether the full membership is worth paying for.

Foreclosure.com has an excellent site, too -- also with a 7-Day free trial.  It draws from a different database so signing up with both companies isn't such a bad idea, either.

Large numbers of foreclosures have created interesting buying opportunities nationwide. do your search and see what comes up.  Then, when you're ready for your pre-approval letter, call or . I'm experienced with short sales and REOs and can arrange your financing for you.

Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.