Foreclosure involves a lawsuit in which a bank, mortgage company, or other lien holder seeks to take an owner's property to satisfy a debt. The bank or lender may actually take ownership of the property or have the property sold to pay off the debt...
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Ultimately the buyers can not pay the mortgage and the FHA foreclosure property
... a mortgaged property that was acquired using a government loan program ....
These homes might be sold via FHA foreclosure listings, many of which are free.
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Government foreclosure homes managed by Veteran's Affairs are referred to as
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