It depends. I know that's not a good answer but it really depends upon your state laws. Some states, such as North Carolina, have a statutory right of redemption period or upset bid period where the person has 10 days to cure the default. During those 10 days after the actual foreclosure date the person can still possibly file a Chapter 13 bankruptcy and save their home. I would contact an attorney in your area to determine if there is an "upset bid period".
Answered on Aug 20th, 2011 at 12:35 PM