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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] That is interesting Posted by Robyn on October 21, 2003 at 12:42 AM In Reply to: There's always a bid at a Trustee's Sale... posted by Ward-CA- on October 17, 2003 at 8:58 PM We have a foreclosure coming up in November. I wasn't sure how it worked. I didn't know that the lender would start out the bidding with the "first bid". What is it usually set at? A certain percentage of what is owed? Also, if the lender ends up "winning" at the sale, then how can they come back on me for the difference? Is that common for them to do? I am in UTAH, with a $52K mortgage on that house. I don't think anyone will show up to bid. Is it going to be worth the lenders money to persue me for a measly $52K, when they have $250K, and $500K houses out there as well? Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : We have a foreclosure coming up in November. I wasn't sure how it worked. I didn't know that the lender would start out the bidding with the "first bid". What is it usually set at? A certain percentage of what is owed? Also, if the lender ends up "winning" at the sale, then how can they come back on me for the difference? Is that common for them to do? I am in UTAH, with a $52K mortgage on that house. I don't think anyone will show up to bid. Is it going to be worth the lenders money to persue me for a measly $52K, when they have $250K, and $500K houses out there as well? 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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