If a foreclosure property is listed at $22,500, what does that mean? How much would it cost?

Asked by Jennifer Mcalister, Stamford, CT Sun Nov 25, 2007

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Mario Pinedo,…, Agent, Cupertino, CA
Sun Nov 25, 2007
That is most likely the amount of the loan (probably a 2nd deed of trust) this is in default. The true debt on the property may be much higher - and probably is. Also, make sure you know how much property taxes are due.
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