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What happens if I can’t repay the loan?
Answer:
If you can’t repay the loan then the lender has no other choice but to foreclose on the loan. They will take you house and sell it to redeem the money they have invested in it. If there is any money over what you owe it will come to you but if the lender doesn’t get the full amount owed you will still be responsible for the remainder that you owe.