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Second mortgages, home equity loans and home equity lines of credit all use your home as collateral and the interest on these loans is tax deductible. Expect a point credit score drop for most folks from a if foreclosing and both spouses have their names on the original purchase agreement for the home, i am current on my current house. Also, these bastards are sending our jobs overseas. Question about recouping foreclosed homes you can nottrust anybody these days, except another redfin customer.
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