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There may come a time in your life when you just can’t hold on to your house anymore. The economy is bad, and it’s questionable whether it will recover any time soon. You basically have two options open to you: short selling and foreclosure. Before you act, make sure you understand what you’re getting into with either option. ¬†Short Selling Short selling refers to the practice of selling your home and collecting proceeds that fall…

In the current climate, one of the popular options for buying a home is to buy a foreclosure. Foreclosures can provide you with a great deal. They are often below market price for comparable homes, and you can buy one as your main residence, or as an investment property. Before you get too excited about purchasing a foreclosure, though, you need to carefully consider your what you are doing. Not all foreclosures offer the same…