I'll be attending wed auction prepared on 2 others , if they go through.

Once a property is foreclosed on the lien being foreclsoed on and all inferior liens are wiped out (the foreclosing entity will get either the high bid amount at the auction or if they are the high bidder they will get ownership of the property).

Other points of interest include how you praised a post stating insurance companies would profit more by allowing anti-selection, yet can't back that up with any fact-checking that you like to impose on others.

This is where you have the potential to make money on top of your auction, The fees that certain states/counties charge are minimal (at least the ones I prefer to do business with). 90% of the time I charge 300.00 for closings costs minus ebay fees for selling is 70 bucks, This leaves me with approx 230 dollars for me.

All the research and actual auction.

If you don't get it, keep watching all the HUD auctions, eventually a similar deal will probably come along.

Here in NJ we are a tax lien state (no auction - only a strict foreclosure filed by the tax lien holder w/ no chaqnce of a 3rd party intervening without a court order).

Hi, taking a mortgage to foreclosure means selling at auction, if your entry bid, cost of the note plus costs is out bid, you are only entitled to the entry bid amount, the borrower in default is entitled to the additional amounts as the equity.

But if the lawyer will cooperate, you might be able to do that.The next opportunity would be at the auction.

Craig- figure out what your goals are, what your financial resources are, then you will be able to determine your strategy.For example, if you don't have much cash or credit to work with, wholesale or sub to may be a better option.If you have a large amount of cash and are handy, fix n flip, short sales, auctions, or REOs may be good.Just some quick food for thought.