Tracking After Foreclosure Sale

[Jim Vora]

Hello BP community: I have been trying to find an answer to a question:

I have been tracking a home which was foreclosed on about 7 months ago. after some digging i got the information that it was registered under the trust by Bank of NY Mellon. After following up with the BONY Mellon, i found out the real owner was Bank of America. so i tried reaching out to their REO department but after a few bumps i got the information that its been now under Nationstar REO LLC which then listed the home on homesearch and sold it in an auction.

although the home did not meet the reserve price set by the bank, i just came to know the bank still sold it via that auction only. so here are the questions:

1) Why does a foreclosed property change hands? why would Nationalstar buy a bank's bad debt?

2) Cant the bank recover much better price on properties that selling it to someone?

3) has anyone come across a situation in Autions where reserve is not met but homes are still sold?

4) what would be the best way to reach a bank's REO if you know they are the owner of the property?

5) Although the property now sold in Aution, the tax department still shows bank's name as the owner? is this possible? ( the property sold in a aution in July).

6) Although the property lender was bankA, the foreclosing was done under a trust and by a different bank? why would this happen?