Updated over 15 years ago on . Most recent reply
trying to understand foreclosure process
I bought a tax deed on a vacant home recently, and I am currently waiting in the one-year redemption period.
After looking through some newspaper archives, I noticed the house has been posted in the legals about 8 different months in the past year or so, to be auctioned on the courthouse steps as a foreclosure.
So, my question is, what is happening here? I thought when a house went to auction on the courthouse steps that it would either be bought by someone or bought back by the bank. Is the bank not buying only because no one else is there to bid?