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These special homes can be found for sale since the owner has defaulted on their home loan, and is at risk of having their house repossessed and sold via an auction by a bank. Unless the homeowner could find a way to produce the remaining amount of debt owed on the loan, the sale will be used by the lender as a method of collecting. To keep this from happening, many homeowners seek to sell their domiciles when they enter default. A foreclosure sale may destroy a homeowner's credit, along with their likelihood of ever getting still another mortgage, so that they are frequently very willing to sell their house to avoid it.

Pre-foreclosures can be very desirable to buyers and investors, because the owner will often be willing to undersell their home only to raise enough money to cover their debt. Since the balance is normally much less than the entire value of the home, homebuyers usually are able to work-out mutually beneficial deals with homeowners that will earn them huge discounts on purchase. Sometimes, the only trouble is finding pre foreclosed houses, but that is where ForeclosureConnections.com might help.

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