what happens when the city forecloses your home?

Mvelez
Mvelez
Home Seller
New York, NY

Sun Jun 7 2009, 04:40 - Foreclosure in Commerce City - 1 answer
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Alisa Hagner
Alisa Hagner
Broker
80012
FIRST ANSWER

In Colorado:

Usually the lender bids on the property the day before the sale date via the attorney. If the lender does not place a bid, the public trustee extends the sale for another week.
Other bids are encouraged at the sale. Other bidders must pay cash to the public trustee.
Whomever wins gets a special deed from the public trustee. When depends on how many other recorded liens are against the property.

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Sun Jun 7 2009, 13:50
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