buying your own home at auction


#1

theoretically speaking, an under water home owner could let their property go to foreclosure and if able to come up with enough cash, ?be the highest bidder when it went to auction…
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would the trustee/and or banl/lender/servicer?allow the previous owner to be the winning bidder?
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#2

Won’t work. You can buy it auction no problem, but once the home is back in your name all wiped out debt re-attaches and you are once again responsible for it. I can’t site the code off the top of my head on this, but the basic concept is that you should not be able to misuse the foreclosure process to your advantage.
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We have seen people do it and then put the property in someone else’s name (friend, relative) to avoid this.