Kevin L Belzer - WHERE TO TURN WHEN YOU'RE FACING FORECLOSURE

to the highest bidder at a public auction. • If a third-party bidder does not purchase the property, its ownership reverts to the bank or other lending institution, who will most likely attempt to sell it in a liquidation auction or by other means. • You will ultimately be required to vacate the house. If you persist in staying there, you and your possessions will be forcibly removed. • Following the foreclosure auction, you might be held responsible for a deficiency judgment, which requires you to pay the difference if the sale does not cover your mortgage balance.