Frequently Asked Questions
What is a foreclosure sale?
When a senior lien on a property proceeds through the entire foreclosure process , the property is then sold at auction to the highest bidder in order to satisfy the loan which has not been repaid.
Will all properties in foreclosure eventually be sold at a foreclosure sale?
No. There are many options for the borrower and lender to work out an amicable solution before the foreclosure sale.
How do I buy a property out of foreclosure?
Unfortunately, no one can guarantee that you will be able to buy a specific property because the properties are sold at auction to the highest bidder. In order to place a bid, you must show up at the location of the auction with cash or cashiers checks. Please contact the auctioneer for the most up to date information about each auction.
Does TTDSC hold the foreclosure sales?
No. We arrange for outside auction companies to hold the foreclosure sales.
I am not the borrower or the lender. What information can you provide me about a property?
Due to privacy laws and policies, we can only disclose certain information to the general public. We can usually provide when and where a particular property will be sold at auction, as well as who is holding the auction. Please contact us if you need this information.