Quiz: Fact or Fiction: Foreclosure Auctions
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Fact or Fiction: Foreclosure Auctions
By: Staff
Image: refer to hsw

About This Quiz

Foreclosures are projected to jump 20 percent in 2011, and many of those foreclosed homes will be up for auction. Are you savvy enough to grab a deal at a foreclosure auction? Take our fact-or-fiction quiz and find out!

1.0 of 10
Foreclosure auctions are held in secret chambers in the courthouse, and you need a password to get in.
2.0 of 10
If you buy a foreclosed house, you may be liable for past-due utility bills.
3.0 of 10
In 2010, 2.87 million property owners were in default.
4.0 of 10
Of the three stages of foreclosure, auction is where you're likely to find the best deals.
5.0 of 10
If the home you just won at auction has renters, you can evict them immediately.
6.0 of 10
You can always inspect a home inside and out before you bid at an auction.
7.0 of 10
If yours is the winning bid at a foreclosure auction, you can negotiate that price down later.
8.0 of 10
There could be additional mortgages on the home that you, as the winning bidder, will have to pay.
9.0 of 10
No matter where you live, you must pay your winning bid the day you win the auction.
10.0 of 10
You can't buy your own foreclosed home when it goes to auction.
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