There are two types of potential foreclosures: judicial foreclosures and non-judicial foreclosures. Judicial foreclosures require that a court approve and oversee foreclosure auctions. Non-judicial foreclosures allow the lender, whether a bank, government agency, or private lender, to schedule, arrange, and oversee a foreclosure auction on their own.
Depending on whether the law in your state requires judicial foreclosures or not, foreclosure auctions will either be held by a representative of the court, such as the County Clerk or Sheriff, or a trustee of the lender, usually a lawyer or representative of the bank or government agency.
Read more: How Does a Foreclosure Auction Work? - Foreclosure Homes on Sale http://www.foreclosurehomesonsale.com/blog/how-does-a-foreclosure-auction-work/#ixzz2CFCNy0dj