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When the REALTY bubble burst in 2008, many people lost their homes because they were unable to afford the mortgage payments. Now, it's easier than ever for homeowners to buy their dream home at auction.

This means that buyers name a price and then they can bid on a property until the winning bid is reached. The difference between the winning and losing bids is split evenly between the bank that owns the loan and the winning bidder.

Buying and selling a property is a complicated process. With traditional auctions, the buyer is required to name a price and then bids are made until the winning bid is reached. The difference between the winning and losing bids is split evenly between the bank that owns it on behalf of the seller.
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