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Buying foreclosed homes soared in popularity during the Great Recession as a wave of foreclosures hit the market and drove down prices nationwide.
By Brendon DeSimone These are trying times for many homeowners. Walk away from a mortgage? Something that was unthinkable and morally offensive 10 years ago is now an option many people are choosing.
Pros. These homes can be more affordable since they are typically priced below market value. Compared to foreclosed homes, pre-foreclosure homes can often be in better condition since the ...
A foreclosure occurs when a lender takes control over a property from a borrower for failing to make timely payments. A foreclosure can damage your credit score and result in loss of property. As ...
If you ve been thinking about buying a foreclosure property as a smart investment or as a second home for your family, you may be on the right track. However, buying a foreclosed home is a task ...
A foreclosure stays on your credit report for up to seven years and will lower your credit score significantly, often by as many as 100 points, according to Equifax.. 2. Focus on improving your ...