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Do FHA Loan Foreclosures Differ from Conventional Loan Foreclosures?

April 26, 2017conventional differ FHA Foreclosures loan

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Do FHA Loan Foreclosures Differ from Conventional Loan Foreclosures?

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Because the Federal Housing Authority has funds at stake if you default on your mortgage, the organization will help you avoid FHA loan foreclosure. This assistance makes the FHA foreclosure process much less burdensome on most borrowers. However, if you do eventually default on your FHA loan, the consequences of the default can be worse than with a private loan.