I'm new to this but why do all the auctions for Bakersfield say they were cancelled for the day.


#1

Do most auctions get cancelled and what happens to the properties if they do?


#2

Right now the majority are postponed and eventually sold. That may start to change as HAMP (Obama Administration Loan Mod program) appears to be impacting auctions and may lead to more cancellations.

Nothing happens to the property if the auction is cancelled. It is just no longer in foreclosure.