What are the different stages of foreclosure, and what do they mean?

by homesaverhub on November 19, 2006

I’m interested in buying a home in foreclosure, but I don’t know what the different stages are or what they mean. I’ve seen “notice of default”, “real estate owned”, “notice of foreclosure sale”, and “pre-foreclosure.” Can someone please tell me the stages (from beginning to end) and what that means to me as the potential buyer? Thanks.

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What are the different stages of foreclosure, and what do they mean?
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