Good evenign, Joyce:
This property has received a notice of default and may eventually be scheduled for a public foreclosure auction. A public foreclosure auction is scheduled when a homeowner in default does not stop foreclosure proceedings within a certain timeframe determined by state statute. Properties are typically auctioned in a public location, such as the local county courthouse, by an attorney or local public official. Auctions can be great opportunities to buy property below market value, but usually don't allow for property inspections and often require full or partial payment in cash within 30 days after winning the bid. If you appreciate an answer, please give thumbs up. For the most helpful answer, please say thanks with a best answer click..