All Forum Posts by: Lang Le

This house is in Trustee Sale auction, the way I understand is the Trustee (law firm) took over the Deed of Trust from the bank and acts and a new Trustee of the property.

I really don't understand the role of the bank in this auction process. I know that if nobody places the bid, then the house will revert back to the bank and the bank will run the REO, but in this case my bid is well above the minimum requirement.

Some where I read that the bank must present in the auction to submit the bid like every one else. 

Anyway what is BK ??

1. At the moment, I am a highest bidder on a Trustee Sale Auction (the trustee is a law firm) the starting bid was set at 194K and my bid is well above it (240K).  Any chance that the bank who holds the mortgage will reject my bid ?

2. If there is no rejection, then when I will receive the notice that the bank approve my bid ?

Thanks