For Victor Guevares, winning a bid at a raucous foreclosure auction two months ago was just the first step toward achieving his dream of home ownership. And after getting through several obstacles along the way, he finally moved his family into the two-story, three-bedroom house in Queens.
The auction process isn't as easy as it looks, Guevares said.
"If you're going to an auction, do your research," he told CNN.
CNN first met the Guevares family in March when he grabbed a home once worth $527,000 for less than half that price.
Guevares had won an auction at USHomeAuction.com's foreclosure sale in New York. Banks and other lenders were unloading foreclosed houses, and many were selling at 50 percent to 60 percent below their highest values.