The show goes on at ballroom-style foreclosure auctions

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At a foreclosure auction, one person’s loss is another’s gain.

Despite concerns about botched paperwork that caused some major lenders to recently halt foreclosures in progress, several hundred enthusiastic attendees gathered Sunday at the Ontario Convention Center to bid on bank-owned properties.

The homes up for auction were foreclosed on months ago, and the banks in turn sell them through companies such as Real Estate Disposition Corp.’s Auction.com, which held the auction.

But a reminder to participants that the houses, condominiums and land being sold came with title insurance didn’t hurt.

And even first-time attendees had some auction savvy to share: Don’t bid on anything you didn’t go out and look at ahead of time.

--Lauren Beale

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