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Real Estate Glossary
For your convenience, we've compiled a list of words and phrases to help you understand Real Estate better.
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By filing in federal
court, an individual or individuals can restructure or relieve themselves of debts and liabilities. Bankruptcies are of various types, but the most common for an individual seem to be a "Chapter 7 No Asset"
which relieves the borrower of most types of debts. A borrower cannot usually qualify for an "A" paper loan for a period of two years after the
has been discharged and requires the re-establishment of an ability to repay debt.
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