What happens at a foreclosure auction in New York

A foreclosure auction is what happens when the case has run its course and the court-authorized sale is finally scheduled. By then, the homeowner usually has very little operational control left.

At that stage, the urgent questions are usually legal ones: whether the sale can be stayed, whether bankruptcy counsel is needed immediately, and whether there may later be surplus money after the sale.

The strongest use of this page is not to learn how auctions work in abstract. It is to understand why waiting until the auction stage is usually the most expensive way to arrive there.