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Credit rating report – That is a report which is in fact the background of an individual’s debt repayment, outstanding debts, bankruptcies and late payments. It can also have his / her bankruptcies.
Refinance – To repay an current bank loan with whatever proceeds have already been had in the new bank loan as a way to take pleasure in a lower desire amount.
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Foreclosure – This is the legal method wherein collateral that's been pledged for your loan may be marketed to be able to repay the mortgage When the borrower defaults.
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