Financing a Foreclosure

[Stephen Warnock]

I've been given several different answers from friends and acquaintances in regards to purchasing a foreclosed home at Auction.  I have heard both, that you need all cash to be able to bid on properties in foreclosure.  But I have also been told that you can have the winning bid and use a loan to secure the purchase of a foreclosure.  

So, in the bigger pockets experience, which is it?  Can I secure a foreclosure property at Auction with a loan that has been pre-approved?  Thanks for any help.