When real property accounts become seriously past due, the County may initiate a foreclosure proceeding. The traditional way to buy a foreclosed home is at a real estate auction. Buying a foreclosed home at an auction can be one of the most lucrative and popular ways of acquiring investment properties. It’s important to know that most lenders have prescribed “price caps” for the maximum amounts that they’ll pay for services.
Government agencies typically take ownership of homes after the owners default on mortgage loans insured by the federal government. After each sale a complete list of the foreclosed properties involved …