Deed of trust forclosure

Posted by Bill on August 26, 2003 at 11:42:11:

I have a deed of trust on a condo in California based on a loan that's in default to the home owner. If I start foreclosure what happens at the trustee sale. Do I have to come up with cash to bid on the property? If none one bids do I get the property. I know the home owner will not file bankrupsy. The first mortgage is only a couple of months behind.