Mortgagee auction

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Mortgagee auction is the term used in both Australia & New Zealand to describe a property foreclosure auction. It is the process by which real estate is forced to auction by a bank or lending institution. This normally happens when the borrower defaults on their mortgage. Although the term "foreclosure auction" is the most common terminology in America for this type of real estate sale, this is not so in either Australia or New Zealand. In these two countries, the term that is recognized by both real estate agents and property investors alike is mortgagee auction.

The quantity of mortgagee auctions and mortgagee sales is on a steady increase.

New Zealand's dedicated website for foreclosure listings is www.MortgageeAuctions.co.nz