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What state is the property in? *Some states have protections for deadbeat homeowners.
Barring that, if they foreclose (whatever the process in that state is), it typically results in a public auction where the lender most often bods a dollar more than the outstanding liens and walks away with the property. *In that case, the former owner gets squat. *The former owner is then removed, by the local sherriff if necessary.
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"And Jesus spake, 'Become thou now fishers of adjustable rate mortgages'" - New Conservative Bible
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