It is possible the bank will let it go to auction. However most banks WANT to avoid foreclosure because it costs them more money to take it to auction, in which case 80% of those homes end up going back to the bank, then they have costs to hold the property, fix it up if necessary etc. The bank would MUCH rather sell the home as a Short Sale.
The listing agent CAN request (Strongly) that any auction date be postponed, the listing agent MUST be aggressive about this as the Aug. auction date is soooo close!
We would need more information to answer that question. when was the property purchase? How much was it purchased for? is it owner occupied? for how long? what are your intentions with profits? are you reinvesting/cashing out? Are you selling for a profit or loss? Lots of possible variations to that question, I'll be more then happy to give you a more detailed answer with more information. Trinidad@listingprice.net... more