How to Buy a Foreclosed Home: The Ultimate Step-by-Step Guide
Redfin
MARCH 4, 2025
All mortgages place a lien on the property in the event that a lender needs to take ownership of the home. If possible, consult a real estate attorney to be sure you understand the realities of the auction and the transaction rules. Government-owned properties Some mortgages are government-backed, like VA loans and FHA loans.
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