The Anatomy of a Delinquent Loan
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When you hear the term “delinquent loan,” it would conjure up images of an indolent borrower avoiding duty. However, the fact is often removed from this caricature. A delinquent mortgage is actually a mortgage that the borrower has failed to make scheduled payments on for a sure period. The designation of delinquency can set in motion a series of events that might have monumental impacts on one’s monetary health, together with credit standing damage, elevated rates of interest, and in severe cases, foreclosures or repossess
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The Role of Collection Agencies
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