Short Sale to Courthouse Auction

[Jeff Smith]

Hello All,

I recently put a bid in on a short sale just to find out that less then 2 weeks later the note was going up for auction on the courthouse steps. Consequently they did not accept the short sale offer and I am still highly interested in this property. After reading these forums I have heard horror stories of people buying second mortgages, properties with liens worth more then the property etc etc. I would like to do my best to not put myself in this situation, but how do people go about doing their due diligence/research and checking this things beforehand? This will be my first time partaking in something of this fashion and any advice/insight will be appreciated immensely.

Jeff