How Your Neighbor's Foreclosure Hurts You

Though the greater part of every foreclosure is incurred by the owners of foreclosed homes themselves, they are not the only ones affected. Having the house unoccupied may not be the only start of your woes, particularly if quite a few homes in the neighborhood have also foreclosed. Even if its two streets across or a few houses down, a foreclosure may affect your home’s value for the worse. Neighboring home values are proven to drop an average of one percent for every seven percent the foreclosed home value drops, according to a 2012 Realty data.

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