-- learned of a new way before closures today. Across 26 states but that part was expected as the big banks just now. -- so many of those mortgage cases what wasn't expected was this for the fourth... See More
-- learned of a new way before closures today. Across 26 states but that part was expected as the big banks just now. -- so many of those mortgage cases what wasn't expected was this for the fourth straight week the number of Americans applying for new mortgages to buy homes is up. Turns out they're jumping in to buy those foreclosed homes and tonight here one of those home buyers. A fourteen year old and economists say that teenager might be on to something here's ABC's -- up. It's actually very bad three yes it's very we get there -- to put it was only fourteen years old. Which he just bought her first house in here is being living. Now she's a landlord. To -- to -- with problems now we don't want yeah and then -- yeah. The eighth -- put down her life savings 6000 dollars cash to buy this bungalow with her mother. Together -- on the front lines long awaited comeback of the housing market but figuring out this kind of behind me. -- -- -- -- house for twelve or 171000 dollars their house was one of an estimated 68 that was in Florida foreclosures in 2011. And with foreclosures now ticking off in most states already savvy buyers -- willow are snooping for deals. And it's not just cash buyers mortgage applications have been on the rise for four straight weeks. And some of the worst hit places coming back Phoenix Arizona prices up nearly 2% over last year. And Miami's condos half empty in 2009. At 93%. Capacity. And where the -- of the world body neighborhoods come back to life. Would you occupy those -- -- have a neighborhood again you have home values rising and you have a community again. Experts say the biggest opportunity remains with first time buyers who didn't really tell the properties. But being a landlord. -- straw backs. You're half of the windows or 12100 dollars wouldn't understand. The total is 2400 loans. And credit the united and that and then there working but. Matt got an ABC news north port Florida.
This transcript has been automatically generated and may not be 100% accurate.