Was this home really sold for $400, can someone explain what this means?

In Zillow when I looked at a particular foreclose home that is going on auction it says under the sold for price history that “ This lender bank name assumed this property for $400 during foreclosure proceedings and now owns it”. Does this mean that the house is only worth $400 or did this number pop out after the person who lost their home covered any debts that they had? Please explain?

submitted by /u/hibabygirl90
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In Zillow when I looked at a particular foreclose home that is going on auction it says under the sold for price history that “ This lender bank name assumed this property for $400 during foreclosure proceedings and now owns it”. Does this mean that the house is only worth $400 or did this number pop out after the person who lost their home covered any debts that they had? Please explain? submitted by /u/hibabygirl90 [link] [comments]

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