According to New York State Foreclosure Law, "In New York, foreclosure sales are made by public auction, usually at the county courthouse. The property is sold to the highest bidder and anyone, including the lender, may bid. The winning bidder typically has to pay 10 percent of the final bid at the sale and the remaining balance within 30 days. When the full amount is paid, the winning bidder takes ownership of the property. Borrowers have no right of redemption after the sale."
Also, there are up and coming regulations on reducing the turn around time for the transactions. I am only hoping that you are not dealing with Bank Of Amerca. Check the web for the specific bank with which you are dealing with, as this greatly determines the experience you will be going through.
The link below is for an animated, humorous version of how the REO procedure works - it may not help ... but it may put a smile on the face of a complicated arduous process. In the end, if you succeed - you will save 10's or even 100's of thousands of dollars - so look at it as earning a salary for a job. Good Luck!... more