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Million-dollar foreclosures

Even million-dollar mansions can become big bargains. That's especially true when banks repossess them from delinquent borrowers and put them back on the market.

Greenwich, Conn.

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  • Price: $1.9 million
  • Size: 5,248 square feet
  • Rooms: 5 bedroms, 5 baths

Greenwich has long been home to Wall Street titans and powerful CEOs.

With a median income that's nearly three times the national norm, homes here are grand and spacious -- and this one is no exception.

Watch: Where foreclosures are being snapped up

Sitting on a two-acre lot lined with trees, this Colonial home in the Cos Cob neighborhood features a two-story entryway, a den with a vaulted and beamed ceiling, wood-paneled walls, fireplaces, a game room, wine cellar and a hidden wet bar in the great room. There's also a mother-in-law suite.

The previous owner put the house up for sale in early 2012 for nearly $4 million but, after failing to sell, it was foreclosed on last July. The lender re-listed it for about half the price.

For further information: Trulia

  @CNNMoney - Last updated January 30 2013 06:38 AM ET

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