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Real estate
The foreclosure process and the general timelines involved
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[QUOTE="Holicent, post: 282880, member: 76163"] [SIZE=15px][FONT=Verdana]Foreclosure is a process that can take several months to complete. The length of time varies depending on the circumstances, but it is generally not unusual to have a foreclosure sale set up within eight to 12 weeks of receiving a notice. Even if the lender accepts your offer on the property and agrees to sell it at auction, there are still some steps left to go before you actually see money in your bank account or walk away with the keys to your dream home. For example: Foreclosure is a process that can take several months to complete. The length of time varies depending on the circumstances, but it is generally not unusual to have a foreclosure sale set up within eight to 12 weeks of receiving a notice. Even if the lender accepts your offer on the property and agrees to sell it at auction, there are still some steps left to go before you actually see money in your bank account or walk away with the keys to your dream home. For example: You'll need to wait for all pending repairs and maintenance issues in your loan contract — such as roof repairs — before closing so closing costs will be waived from then on out; You'll need proof of income and other necessary paperwork from yourself and all parties involved.[/FONT][/SIZE] [/QUOTE]
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The foreclosure process and the general timelines involved
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