Perhaps I misunderstood - I was thinking the 'last step'of the foreclosure process she asked about was the trustees sale 'auction'. That's the 'end of the foreclosure process... and those do require cashiers checks.
Auctions set up to sell off REO properties are quite different, I agree, and do not require quite as much 'due diligence' as a trustee's sale auction. But those auctions are just another way of marketing REO properties. I have not heard of any one getting a great 'deal' from those auctions either - just the opposite in fact.... more