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what does pre-foreclosure mean

What Does Pre-Foreclosure Mean? And How to Avoid It.

Pre-foreclosure means that your lender has issued a notice of default (a public notice filed with a court) and that they are beginning the process of foreclosure. Fortunately, pre-foreclosure does not mean that your house will be foreclosed upon and there are many ways to get out of pre-foreclosure. While pre-foreclosure may seem like a …

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Should You Pay a Mortgage Principal or Escrow First?

If you’re stuck between paying down the balance on the principal or escrow on your mortgage, always go with the principal first. By paying towards the principal on your mortgage, you’re actually paying on the existing debt, which brings you closer to owning your home. On the other hand, escrow is essentially third-party funds to …

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