"Its not shorting, but you are profiting from someone elses bad luck, either a bank forclosure or a family death. If your against profiting at anothers expense then most(all?) investment are 'immoroal'."
I am not sure I would agree with the above, you are purchasing at market price eg what the market is prepared to pay for the property no less no more. Any purchase is at the expense of another but that doesnt put it in the same category of shorting.
Buying at market price is not what I would call immoral, there is shades of grey when selling something you do not own. For one it puts pressure on an already pressured stock, for the purpose of profit.
The person buying at a Mortgage sale for whatever reason, has no chance of influecing the prices rather they purchase at the going price
VIL Price at posting:
3.7¢ Sentiment: None Disclosure: Not Held