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Buying of foreclosed homes have always been viewed as profitable transactions, due to the discounted prizes in comparison to the existing market rates. As we know, foreclosed homes are those, which are taken over and put up for sale by banks or other lending institutions, due to the default of the owners in repaying the mortgage loan, which is secured by keeping the said homes are collaterals. As the lenders have to recover their investment on a foreclosed home, such homes are often sold at a price, which is lesser than the existing market value. Usually, a discount of around 20% to 40% … (1 comments)
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