Posted by LUCKY on March 01, 2002 at 20:54:40:
some do sell for stated amount IE.(FHA,va) are government backed loans and the bank will bid all that is owed, and then send the government the bill.sometimes the PMI carrier will bid stated amount to protect themselves.If these are not the case then they may go for lower than stated amount.
I know they can stop the sale when filing for bankruptcy, even on the day of the sale.
I have never heard of anyone doing it after the sale,I have heard of a redemption period after the sale.
I would go early and ask questions, Talk to the Master Commissioner after the sale, he can give you more answers.
JUST MY THOUHGTS…
LUCKY IN KY