HUD offers real estate by auction
HUD is taking the unusual step of offering properties for sale by an auction.
Here's the announcement
"In an effort to reduce inventory, HUD has announced that it will conduct an electronic auction of a designated group of properties nationwide. The auction will begin at 10:00 AM EST on February 27, 2004. All bids must be submitted not later than 11:59 PM EST on February 28, 2004. HUD expects up to 4,000 properties to be included in this auction nationwide. We expect to have up to 1,000 homes available in the auction from Golden Feather areas. All listings subject to removal prior to the commencement of bidding."
You can read more about it here: