If you want to buy before the auction, you can hold off the bank by doing the following:

• Take over the existing mortgage. The bank should be willing to trade your good credit with the current owner's poor payment record.
• "Buy time" by making the monthly interest payments on the mortgage. You can hold off the bank for months while you negotiate with the owner or get a construction loan.
• Throw up legal barriers. Have the owner file for bankruptcy. That instantly puts the auction on hold. But the court won't get around to approving the bankruptcy for several months. In the meantime, you complete the deal, and the owner withdraws his or her bankruptcy filing before it becomes an actual bankruptcy. A bankruptcy attorney can usually help the owner stall a foreclosure auction by 1-2 years, which should be plenty of time.

  * Signed disclosures and Exclusive Representation Agreements required for access to any and all data regarding Westchester's Foreclosures.  Askrey.net has validated all foreclosure data to the best of our ability. Do not soley rely on this information to support investment decisions. The only authoritative source for the information on this page are the government agencies from which the data was acquired.