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The consequences of delinquency can enhance significantly depending on how long the mortgage remains unpaid. Initially, late fees may be added, and entry to new credit score might be restricted. Over time, prolonged delinquency can lead to the mortgage being charged off, which indicates that the lender considers the debt unlikely to be recovered and will involve debt collection processes. Thus, understanding the implications of delinquency is essential for each debtors and lend
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