Asked by Randy, Royal Palm Beach, FL • Thu Mar 3, 2011
My brother wants to bid on my foreclosed house but has noticed that 95% of the bids are won by the plaintif representatives. Why does the bank bid on the house when they can own it without auction and how can this be legal? They out bid the other potential buyers, without having to put up real money. Paying the money, which then gets paid back to them doesn't seem right. Can someone please educate me.
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