Can an auction be canceled by lender if the home owner pays off the debts?


#1

The property has some equity in it and the auction was postponed multiple times.
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I am wondering that can the auction be canceled. If it is possible, I?ll work with the homeowner to pay off the debts. ?I?ll treat this as a pre-foreclose deal if the auction could be canceled.


#2

Yes, all “auction” opportunities can still be pursued as “preforeclosures”. The lender isn’t required to accept only the past due amounts once the sale is within 5 days of auction, but even then you can still pay it off.


#3

Thanks for the answer. I thought that once a property is in foreclosure than it is no return.
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Now I know that the foreclosure can be buy off. I guess that is why many auctions dispeared.
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Thanks again.