What happens to a foreclosed home/property if its not sold at action?

it is slightly possible that it is still your home. I can't see why though

your lender did not go to court.

You are getting different answers because you are asking about 2 different things.

When a bank forecloses on a loan; they hold a Trustee sale or Sheriff's sale to recover the money they loaned on the property. At this sale the bank usually bids amount owed on the loan and it is sold to the highest bidder. The banks right now are getting over 95% of the properties because of falling values.

Once the bank gets title to the property then they will list it for sale at an auction or thru a real estate company to sell it. If at this auction nobody buys it then the title is still in the banks name and they continue to try and sell it thru more auctions or more real estate companies.

The name of the sales will change depending on what part of the country the property is in but the process is te same and in your question it was not clear if you were asking about Trustee/Sheriff sales or auctions after the bank had title.

Most will be left vacant and if not done already will have the pipes ripped out within a few weeks. There will probably be something published and you could look into purchasing for the opening bid if it is a tax sale auction. The city just wants someone to own them.

Well, the mortgage company will buy it back at auction and then it will go to their REO department. If they do not buy it back then there was no reason to foreclose and go to sheriff sale to begin with. So, if they do not buy it back, I would assume you have the first right to acquire it back. I would call the REO department at your bank and also the county sheriff auctions. They will lead you in the right direction

Correction - The bank takes title to the property. They never had title, only a mortgage.

realtor.sailor

The bank still owns the property and will try to sell it through a realtor.