Foreclosed at ...

[Nick Lee]

Hi Everybody,

Have been going through the site and pod casts to learn as much as I can, think this resource is fantastic!

I have tried looking on the Internet google etc but still want help with the following question.

If a house is listed on Zillow for example and says sold 65000 foreclosed to the lender, does this mean that the mortgage owed the lender that amount, or could it of been they owed a higher figure?

 I can see that on some sites looking for previous sold prices this could cause confusion as you may see that the house sold for 65000 when it was actually just foreclosed.  This could cause confusion about possible current values and does this affect online comps and artificially inflate what the current market value may be? What is the best way for me to get around this? Should I just use a Realtors local comps? 

Look forward to your response

Thanks

Nick