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Q: What does it mean to be in foreclosure?
A: According to dictionary.com, to foreclose is to deprive
(you) the mortgagor of the right to redeem mortgaged
property, when payments have not been made. When you have
missed two months worth of payments you have defaulted on
your loan, but you are not yet in foreclosure. The
foreclosure proceedings will
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Foreclosure on a house is something we never imagine will
happen to us but statistics show that many people do go into
mortgage foreclosure. If you see default payments as a
future issue then it is important to know how to avoid
foreclosure. If the proceedings have already begun, you can
get more tailored information by researching the foreclosure
timeline according
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Before attempting to buy a home after foreclosure, it is important to educate yourself on the necessary steps, and improve your odds of getting approved. Certain situations are extremely damaging to your credit report. These include bankruptcy, foreclosure, repossession, etc. Fortunately, you can rise from a bad credit situation. Here are a few tips to help you get approved for
Read more ...
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