Can you explain a foreclosure to me? I know that they are properties that the bank is trying to sell for one reason or another but other then that I am not sure.
I have heard that they are selling foreclosures for just what is owed to them and I have heard they sell them for as much as they can. Not sure which is right.
Also I have heard that you have to pay the full amount and that it is just like a regular mortgage, once again I am not sure which is right.
Thanks
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