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There can be many reasons homeowners find themselves in a position of needing to sell their house. Sometimes it’s necessary because you need to relocate for work or to take care of an aging loved one.
Have you found yourself in a financial bind and need to sell a house to avoid foreclosure? Maybe you’ve even asked yourself, Can I sell my house to avoid foreclosure?
Just the term, foreclosure brings up feelings of fear and dread. No one wants to lose their house. You may have already heard the term, or you may fear hearing it soon as you’ve fallen behind on mortgage payments.
Foreclosure is a legal process that a lending institution or mortgage company obtains ownership of your home, in other words, a repossession of the property.
Having to say my house is being foreclosed is something that homeowners never want to have to admit. Unfortunately home ownership comes with a lot of financial responsibilities.
Most homeowners need to borrow money from the bank before buying a property.