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Pre foreclosures are referred to as properties that have got to the country the final stages before they get repossessed or taken back by the lender or bank. The owner is still in total control of the property or home, although the bank or lender will repossess the home if the owner doesn’t attempt to rectify the position. Normally, if the owner makes things right with payment, the pre foreclosure will settle and things will can return to normal.

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 So you’ve stopped paying your mortgage  and suddenly your bank sends you a notice of trustee sale claiming that your property will be foreclosed upon in a few months

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