Tag: lot foreclosure

Is a Foreclosure on a Lot Considered a Foreclosure for Qualifying Purposes?

Question: Our client bought a lot about 10 years ago.  They stopped paying taxes and the sheriff placed the lot for sale, but no one purchased it.  Is this considered a foreclosure against our client? MC Chart – Extenuating Circumstances Answer: Assuming that the land was transferred out of the borrower’s name and back to […]

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