October 1, 2008
If you fall behind in your monthly house payments, the seller or lender may try to take the house back. This is generally called foreclosure. If a house is foreclosed, you may lose not only your house, but also all of the money you’ve invested. A foreclosure or a deficiency judgment could seriously affect your ability to qualify for credit in the future. Avoid this if at all possible.
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How to prevent ForeclosureIf you fall behind in your monthly house payments, the seller or lender may try to take the house back. This is generally...
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