Financing For Forclosure Auctions

I just came from a forclosure action in San Antonio, where different creditors where auctioning forclosed properties. Is there a specific financial requirement, like a letter of credit, to bid on foreclosed properties or is it up to each individual lending institution?

Comments(1)

  • Hal23rd August, 2005

    This is true of both bank foreclosures as well as tax auctions?

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