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What is a first look period? Hud first look properties, otherwise known as cwcot or second chance foreclosure, properties are foreclosure. The claims without conveyance of title (cwcot) program, also sometimes referred to as second c hance foreclosure, gives buyers. Second chance foreclosure (cwcot) properties also referred to as claims without conveyance of title (cwcot), this. By allowing bids that do not amount to the total debt owed on the asset, the program seeks to decrease the number of homes in the u.s.
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