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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Just a quick question? Posted by Ward-CA- on March 28, 2002 at 4:33 PM In Reply to: Just a quick question? posted by Char on March 28, 2002 at 11:17 AM : I see in the newspaper that there is a foreclosure to be held in the courthouse. My question is if it states in the paper that, say for example $50,000.00 owed plus fees. Does that mean it will have to sell for that amount or more, and what if no on bid that much? What happens then. I was just curious, thanks for your input, it is in NY. : Char ========== If a foreclosure doesn't sell to an outside bidder at the foreclosure auction then the lender's opening bid will prevail and the lender will become the owner of property. The lender will probably market the property through a local broker. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I see in the newspaper that there is a foreclosure to be held in the courthouse. My question is if it states in the paper that, say for example $50,000.00 owed plus fees. Does that mean it will have to sell for that amount or more, and what if no on bid that much? What happens then. I was just curious, thanks for your input, it is in NY. : : Char : ========== : If a foreclosure doesn't sell to an outside bidder at the foreclosure auction then the lender's opening bid will prevail and the lender will become the owner of property. The lender will probably market the property through a local broker. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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