Foreclosures

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[PULSE] Does the mortgage industry view foreclosure as a last resort?

May 28, 2020By

Even in normal conditions foreclosure is a cumbersome solution to the problem of the defaulting borrower. It can produce vacant and abandoned properties, because as soon as the residents receive notice that the house will be going into foreclosure, they face uncertainty about when they will be ousted, which prompts many to vacate the premises before getting thrown out.

3d rendering of a row of luxury townhouses along a street

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