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What does foreclosed mean - Android Apps

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Means that the property in question was taken back by the bank or original lender of money because of lack of payment on bill or lack of confidence by the lender that the persons with the loan will be able to pay loan, usually called a demand payment which is where the lender request full repayment of the loan. This property will be resold by the lender to satisfy the original loan and if the amount that needs to be satisfied is not reached then the person foreclosed on may be responsible for the remainder

Posted on Oct 06, 2014


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