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Foreclosure is the process whereby the lenders repossess a home while the homeowner fails to make mortgage payments regularly. The value of the property is used as a guarantee against non- payment of the debt and hence the home owner is forced to sell the property at a rate which is less than the market [...]
Filled Under: Finance
VirginiaVirginia allows both in court or judicial foreclosure and out of court or non judicial foreclosure. As in all states, the decision as to which type of foreclosure to pursue is up to the lender. The most preferred method of foreclosure by the lender is out of court. It moves along quicker and generally costs [...]
Filled Under: real estate
