There is also a dollar amount established by the note holder which they will not take less than and therefore will bid up to the outstanding amount, typically.

If foreclosure was initiated you should of received notice as you are a lien holder.

One of the best ways around this is to become your own broker; have you thought about marketing to seller finance note holders?

Jen Simbolw you may want to consider starting with REO properties which you can inspect vs. auction where it is sight unseen and may have title issues.At an auction you also have to be very careful to ensure the senior most lien holder is initiating the foreclosure.

Actually, those that purchase in brokerage circles, or directly from the holder,  NPNs or PNs that don't understand how and why a loan was originated and how it was underwritten and who can't underwrite it under it's current condition isn't an educated investor, but a gambler. 

Misleading any investor or lender by the way can be fraud.Maybe it's a seller puffs up the books, maybe a borrower tries to show more than they have, maybe a note holder shows higher values to influence investors to jump into their investment pool.       

Note: If there is a mortgage on the property, the lien holder may pay the taxes before auction so I would wait until auction as a last resort.  

You could structure the deal as interest only and pay $700 but that would be 5% interest, not that great for the note holder.

The process is simple and again........very effective.I am still studying the market for different industries and I would like to get feedback from judgment holders(creditors) to determine:(1) What method are you currently using to recover payments for your delinquent court ordered judgment?

In some counties you have to pay the taxes each subsequent year brefore you can foreclose - in some counties you don't but if there is an older lien, that lien holder can foreclose first.