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Lots of foreclosure expenses

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June 07, 2009 – Comments (0)

CR has a previously unpublished on the blog post by Tanta that lists foreclosure expenses, or at least that is what got my attention.

In the example the property is sold for 8% less then the mortgage but other expenses bring the loss to 40%. 

I am looking in the article and there is 12% commission included in the sale, $8400 on an $80k sale.  That's outrageous and seems like gross mismanagement to me.

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