Real estate foreclosure: when bidding can pay off

By Thomas Öchsner

A house in the country or their own apartment in the middle of the city – many people have already made this dream come true and can expect to live within their own four walls. Unfortunately, sometimes things turn out differently than you might think. Anyone who finds himself permanently unemployed, has to endure a costly divorce or becomes seriously ill and can no longer make a good living, may no longer have enough money for interest and mortgage repayment. In the worst case, the residential property will then be foreclosed. For some, a world is collapsing, for others it gives them the opportunity to perhaps acquire their long-awaited property at a lower cost. What to watch out for – the most important questions and answers.

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