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FDIC or Federal Deposit Coverage Corporation – Typically a federal agency which insures a purchaser’s deposit in their personal savings and for just a loan of around $one hundred,000 For each account. These deposits will involve savings and checking accounts as well as deposit certificates.
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Foreclosure – That is a legal method wherein collateral that has been pledged for your loan might be bought to be able to repay the bank loan In case the borrower defaults.
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