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Foreclosed home sales aren't always final
Know all the rules and regulations before purchasing a foreclosed home. In some states the original homeowner has a redemption period in which they can satisfy their debt and take back the foreclosed property. Additionally, banks may also take 60 days or more to decide whether to accept your offer on a foreclosed home. These homes can be great bargains, but can also be extremely risky purchases.
Bob Clark built this house in 1956. He and his wife, Rita, have raised nine children in this house.