Step 7: Public Auction

At this point, your house is up for grabs for public buyers. Today, auctions are typically held online. However, they may still be held at the courthouse in some counties/jurisdictions. This is when bidding wars occur to buy your house at a substantial discount. The highest bidder will be awarded certificate of title, ultimately taking ownership of your home

If your house is sold at auction, you still have a 10 day right of redemption to reclaim your property. The caveat to this is that you must bring the full balance current. Partial payments will not be acceptable. You have the option to pay all cash. Financing is usually not an option because there is not enough time to get approved. Also the Lender has the right to come back after the Redemption against the Borrower if there are amounts that were not calculated in its Final Judgment that they incurred after its rendering. Understand that the window of opportunity is rather slim. So, acting quickly in this case is paramount