Can the existing bank you have a mortgage with buy your home once it goes into foreclosure at an auction at a low price then market it and sell it at a high price?
2 Answers from Attorneys
Yes. A home can be purchased by anyone at the auction (even the bank), and later resold. There may be challenges to a foreclosure auction itself and you should consult with a lawyer.
Yes, once the home goes to auction anyone can buy it