I am not related to Michelle. - I am willing to give you my opinions openly in this forum.
Caveat: This is NOT legal advice.
It is possible that an investor could win at the auction if the investor bids at or above the banks "reserve" price. The reserve price is not disclosed before the auction. Only a small percentage of courthouse steps auction sales go to outside bidders. The foreclosing bank takes the property back in the vast majority of cases.
After the trustee sale, the new owner, whether an investor, or the foreclosing bank has the choice to approach you with a cash for keys offer, or they move straight to an eviction notice. At that time you would be notified of the length of time you have to get out. It is also remotely possible that an investor could offer to rent it back to you, (very rare) All of what I said is opinion, NOT legal advice. Discussion of issues by non-lawyer citizens should not be suppressed by attorneys seeking to monopolize the conversation. If only lawyers were allowed to discuss issues that are affected by laws, our first amendment rights would be diminished.... more