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It depends on the lien.

If it's a creditor and not the mortgage holder, the creditor's lien is wiped out. The asset won't be seized. It's protected. The holder of the title deed however is the true owner of the home, so a foreclosure would be in the works if the mortgage isn't being paid.

by Upstate NY on Mon Feb 18th, 2013 at 11:23:47 AM EST
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