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According to my study, after a the foreclosure home is bought
at an auction, it is common with the borrower to be able to
still have a remaining balance on the bank loan. There are many lenders who try to have all rates and liens cleared by the future buyer.
However, depending on certain programs, legislation, and
state laws there may be many loans which are not easily sorted out through the exchange of
financial products. Therefore, the duty still falls on the client that
has acquired his or her property in foreclosure process.
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