Updated almost 9 years ago on . Most recent reply
HUD "Second Chance" Auction
I'm looking at a foreclosure that is going to auction and the auctioneer lists this as a HUD "second chance" auction. According to their site, second chance means the home didn't sell to a new homeowner at the foreclosure auction and the Jon is now discounted below appraised value. Anyone have experience with this? Is this as simple as described or is there more to it?