Understanding Free and Clear Properties
For a prospective homeowner, free and clear means that the property has no liens and the mortgage obligations have been fully taken care of. These types of properties are highly regarded among buyers and investors wishing to purchase an investment that isn't attached to another loan. Considering most investors require a loan to begin with (i.e.: hard money loans), these properties make sense so as to avoid having to make payments on a pair of different loans.
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