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How To Stop Foreclosure Texas Your home may be in foreclosure for a number of reasons, but each of them may be hard to deal with both emotionally and financially. Many people go into foreclosure because they are laid-off or fired from their job, can’t work because of serious medical conditions, have stopped paying their bills, have a divorce or issues with a co-owner of the home, are transferred to another state for their job, or can no longer afford to maintain the home. When homes go into foreclosure, they are typically auctioned off to the highest bidder who is then left to fix whatever issues remain with the house, if any. This can be financially taxing on a homeowner because the home may sell for less than or equal to the remaining debt on the home, leaving the homeowner with empty pockets and often nowhere to go.
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