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Learn About Mortgage Loan Foreclosure

A foreclosure is a legal process in which a mortgage company or lien holder takes possession of a property due to default. If you purchase property and secure financing through a mortgage company, you sign documents agreeing to repay the home loan over a certain number of years. Although you're the owner of the property, the mortgage company holds the note until you pay off the balance.

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Learn About Mortgage Loan Foreclosure

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