Went To Auction, Funds Never Came, Bank Owned, Back At Auction

Here the slim on this one.

House went to auction, apparently a few years ago. Developer found out about it a day or two before. Bid up to 1,000,000 for 30 acres of mostly wetlands. He didn't know they were wet until after the auction, so he forfited his 5k.

House is now up for auction again. In the paper, it has the original owners name. But acording to the neighbor, the new guy never paid in full.

Would I be able to contact the lender, and try for a short sale, or would they just tell me to go to the auction?

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