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How do Foreclosure Auctions Work? How to Find Properties, Research, and Bid

HomeLight

The purpose of the foreclosure auction is to recoup money for missed mortgage payments or tax liens. The purpose of the foreclosure auction is to recoup money for missed mortgage payments or tax liens. To help collect this money, the home is listed at a foreclosure auction where it’s bid on and (ideally) won.

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Flipping Houses in New York: 5 Cities to Consider

HomeLight

Flipping takes a lot of money, know-how, manpower, and planning to be successful. Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. But a house-flipping venture is not for the faint of heart.