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Can the Bank own my Home but I still live in it?

A secured loan is a loan that is taken out using your home as collateral. If you default on this loan or refuse to pay this loan back, the lending agency or bank is allowed to repossess your home in order to make up for missing payments.

Some people wonder whether or not you can still live in your home after the bank has repossessed it, possibly paying back the bank as rent.

 




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