You made smart decisions on the path to realizing your dream of homeownership. We lost our home of 25 years in Birmingham to a wrongful foreclosure driven by associates of Bob Riley and Luther Strange and Jeff Sessions. But most lenders prefer this process anyway because it is much faster and less costly. Rancor gave way to reason, however, and just before the day fixed for the foreclosure sale the matter was settled.
Final minimum bid information is not available until just prior to the scheduled sale date. Also, some lenders prefer to sell their bank-owned properties at a liquidation auction, often held in auction houses or at convention centers. When buying a home in foreclosure you might become responsible for any debt connected to the home.
Note: Before the foreclosure process begins, the lender or loan servicer may send you letters (over the course of several months) demanding payment. …