Sheriff Sale-Mortgagee Not Bidding The Whole Amount.
I attended a sheriff's sale today. Most of our auctions start off at 2/3 appraised value. Two of the properties sold for less than what the mortgage amount was. This caught me off guard. I didn't pay much attention to these two properties before the sale, because of the large balance. Is anybody else noticing a trend where lenders are letting properties go way below what is owed? ItzMe
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Yes they do and can so go prepared.
SKI