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02-26-2009, 01:49 AM
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What's the deal with foreclosures in USA ?
I have lost count of houses I have seen selling for like $20k in most cities of USA - that is insane. How does it actually work ?If someone bought the house for $100k and have paid off $80k off the mortgage and then go into foreclosure - is that the $20k that you pay and then you get the house ? That is just too easy !!
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