You need to be careful when you are planning to buy a foreclosure property planning to buy a foreclosure property from a defaulting borrower. The property owner is under tremendous emotional pressure; it's not easy to lose your home. Remember, the cause of the financial problem — loss of employment, divorce, death — is still negatively affecting the owner's life. Someone facing foreclosure often does not think straight. The property owner might be in denial and refuse owner might be in denial and refuse to accept his plight. He is likely confused and agitated, and you are probably not the first person he has spoken to about his worsening financial situation.

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  2. Buying Foreclosures
  3. Risks in Dealing with the Prior Owner
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