You may not want to be blogging to get an answer...Maddof's friends all sang his praises.

The loan went to auction and nobody bid the property.  

They will usually let it run through three or four times on the auction set without hitting the reserve and the formula for reduction, which is similar for REO on the market, is reduction of ten percent every thirty days until it sells.

For foreclosure connections, I'd look into local wholesalers or auctions.

All self praise shared by Neal Bawa before was just that advertisement.

Especially on the auctions on the courthouse steps. 

Better for the bank to Foreclose right off the neg am and cash out at auction then suffer through 30 yrs of 2-3% while they are paying 5-6% to borrow. 

First and foremost, buying more than one property at tax auction is advisable to help you unload those that may have liability issues. 

Make a buy at a Nebraska Tax auction on just the taxes.4.  

Buyer who thinks if property is worth $500k and balance on loan is $100k that they can get the $500k at auction.4.