A sheriff’s sale (or auction) comes at the end of the foreclosure process when the defaulting homeowner can’t repair his financial problems with the lender. There isn’t any reason for a foreclosed home to depreciate any faster than a traditionally bought home. Arrive before 10 a.m. on the date of the sale to check in and obtain an auction number. The new owner must continue to comply with all laws and regulations that apply to units subject to rent control and rent stabilization.
A list of properties for sale may also be obtained from Ocwen’s website at If you are interested in buying a VA-acquired property when it is listed for sale by Ocwen Federal Bank FSB, please contact a local real estate broker of your choice to see the property.
When a house is foreclosed upon, it becomes the property of the bank, which then turns around and sells …