Pre-foreclosure is that situation when the property owner fails to pay the loan amount to the money lender and is late for three months. It fortunately or unfortunately gives the lender the right to put that property on a pre-foreclosure process and he informs the trustee about it by sending him a notice regarding the same. It is not that a property going through the process of pre-foreclosure will be surely foreclosed, it depends on various consequences. The property owner can save his property from getting foreclosed by making mortgage payments to the lender. In case, the owner fails to
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