Chapter 6 - The Auction Block
Thirty days passed. The deadline expired without a single cent paid toward the outstanding balance.
On a clear, freezing morning in late January, the public foreclosure auction was held on the steps of the county courthouse. A small crowd of real-estate investors, private buyers, and curious onlookers had gathered.
Diane and Madison stood near the back of the crowd, bundled in heavy coats. Diane looked pale, dark circles hollowed under her eyes, while Madison stood glaring at me from behind her sunglasses.
The auctioneer raised his gavel.
"We are opening the bidding for the residential property located at 742 Elmwood Lane," the auctioneer announced. "Opening bid sits at $384,000, held by the primary lienholder, Apex Capital Holdings."
An investor in a brown coat raised his hand. "Three hundred and ninety thousand!"
"Four hundred thousand," Daniel called out on behalf of Apex.
"Four hundred and ten thousand!" the investor countered.
I nodded at Daniel.
"Four hundred and fifty thousand," Daniel said loudly.
The crowd went quiet. The investor shook his head and stepped back. $450,000 was well above the current distress market value for the property.
"Going once at four hundred and fifty thousand," the auctioneer called out. "Going twice... Sold! To Apex Capital Holdings."
Diane let out a choked sob and buried her face in her hands. Madison grabbed her mother's arm, her jaw clenched in pure hatred as she stared at me.
I walked down the marble steps of the courthouse, stopping directly in front of them.
"You took my house," Diane wept, looking up at me. "You took your father's home."
"Dad left you this house debt-free, Mom," I said gently. "You mortgaged it three times to fund Madison’s trips, Madison’s business ventures, and Madison’s lifestyle. You lost this house years ago. I was just the one holding the mirror."
I pulled a formal document from my coat pocket and handed it to Diane.
May you like
"What is this?" she whispered. "An eviction notice?"
"Read it," I said.
