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What Is Foreclosure? – Foreclosure Center – Foreclosure is what happens when a homeowner fails to pay the mortgage. More specifically, it’s a legal process by which the owner forfeits all rights to the property. If the owner can’t pay off the outstanding debt, or sell the property via short sale, the property then goes to a foreclosure auction.
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Foreclosure Listings of Homes for Sale. Updated Daily. – The website lists bank-owned homes and government foreclosures for sale at discount prices as well as distressed foreclosure properties, pre-foreclosure properties, REO foreclosures, short sales and foreclosure auctions. Each home foreclosure is listed by state, county, and city, which simplifies the search for potential homebuyers and investors.
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