Lender Confirmation Auction
A lender confirmation auction is a type of foreclosure sale in which the highest bid will only be finalized after it is approved and accepted by the mortgage holder. This differs from an absolute auction, in which the winning bidder automatically takes ownership of the property.
Original Article Source Credits: Investopedia , https://www.investopedia.com/
Article Written By: CAROL KOPP
Original Article Posted on: May 29, 2018
Link to Original Article: https://www.investopedia.com/terms/l/lender-confirmation-auction.asp