what is a pre=-forclosure auction & what does that mean to a buyer?

Asked by Boss Lady, Trotwood, OH Tue Feb 12, 2013

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Barbara Kachenko’s answer
Barbara Kach…, Agent, Twinsburg, OH
Tue Feb 12, 2013
The home owners are behind on their payments to a point that the bank will foreclose on the property and will either, purchased it back at sherrif's sale but it back on the market for sale or sell at an auction.

PRE-FORECLOSURE is the process prior to the above process

Hope this helps
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