The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: tejek who wrote (263124)	7/22/2010 3:57:17 PM
From: Broken_Clock	Read Replies (2) of 306849

Most areas allow the lien holder to exercise a "credit bid" at auction. The banks won't let a 300k note get discounted to some clown bidding 50k at auction. The lien holder in essence has an upset price of what is owed. Most folks figured that out in Hawaii and don't even go to the auctions anymore. Total waste of time. Tax auctions are different but have their own set of problems.

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