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Foreclosure: A Choice to Make Profit

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Hamlin1234 | 01 Feb 2012, 07:53 PM Agree 0
Foreclosure occurs when a financial institution sells a property, especially because the owner defaults on the mortgage payments. If a person money to borrow to buy a property,there is always an agreement between the borrower and the lender on a timely payment.Failure to familiarize yourself with the timely payment by the debtor will in any case, initiation of foreclosure.

If the government does not need to insure the mortgage, the lender has three months to take the property back into possession. If the lender has the option to buy the property, then he cansell the property at a certain price.
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