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What are the consequences/ripple effects of a home foreclosure (i.e., credit, etc.)?

April 26, 2017consequences credit foreclosure Home Ripple

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What are the consequences/ripple effects of a home foreclosure (i.e., credit, etc.)?

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Two immediate effects of foreclosure are that the borrower losses their home and the second is that their credit is badly damaged. In addition, a foreclosure can drag down the prices of surrounding homes. If there are enough foreclosures in an area, that can eventually result in a slowdown of home price appreciation in the area.