Broward County Judge Orders New Auction After Unfair Bidding Process

Claiming that lenders have an unfair advantage in the foreclosure auction process, a Broward County Florida judge has ordered a new auction after a 4,033-square foot house sold for $5,200.00. According to the lawyer for the couple foreclosed on, the maximum bid posted by the lender is visible to all potential buyers and discourages them from bidding. It was claimed that the bid should not be listed to encourage a more fair auction procedure. If this decision stays and is followed, potentially thousands of foreclosure auctions could be challenged. The case is currently under a motion for reconsideration.