Foreclosure in 33314>Question Details

FCDavie, Home Seller in 33314

My house will be sold at an internet auction. The bank has a maximum bid $ 3000.00 higher than the final judgment. My questions are?

Asked by FCDavie, 33314 Wed Apr 28, 2010

1: Does this mean that the bank is bidding that amount regardless? or they can let it go for less?
2: The second question is obviously: If the bank bids what I owe them, will I still owe them money?
3: Wishful thinking, but being the max bid 3K higher do I get the difference?

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So if I understand you correctly, your house is being auctioned by the county clerk? The lender has not yet foreclosed and took ownership?

Why not try to stop the sale and immediately do a short sale? You may be able to get an audience with the judge and show him you submitted a short sale offer near full market value. Your credit will be significantly less damages via a short sale or deed in lieu than a full blown foreclosure.

If it's already foreclosed and the new owner (the bank) is re-selling it then you may be able to get some money back if it sells above their costs to hold this auction and the realtor fees and transaction fees for transfering ownership, etc. $3k will probably not cover the costs.
0 votes Thank Flag Link Wed Apr 28, 2010
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