Before the actual foreclosure auction, the owner is still in legal title to the property and is the only one that can sell the property.Now in a short sale situation where the lender discounts the amount owed, you are buying the property before the auction from the owner but with the approval of the lender.

Yes I know I can legally broker loans but I was wondering if large lenders solicit people like myself.

Would it be worth anything to me (in terms of strategy or legal position) to try to purchase the second lien at a discount?

You completely ignored management (whether you do it or not), maintenance, capital expenses, vacancies, utilities during vacancies, advertising, entity maintenance, legal fees, damage done by tenants, evictions, court costs, lawsuits, fuel so that you can drive to your rental 1 1/2 hours away, etc, etc, etc.

That is how you end up with a 6% - 6.5% rate today.If a US lender is offering 1% mortgages, its only because they are deferring the other 4% plus to a balloon payment down the road 1 year or 3 years later, which sounds good up front but will cause an estimated 1.7 million foreclosures in 2007 because of these sneaky (but legal) loan practices.We have found a way to bring Japan's financial stability and low financing to the rest of the world.

The ones I am looking at right now are those on which no leins were sold; therefore, the county (Rogers in Okla.)legally owns the property and will be selling them at auction.

Pre-foreclosure means the homeowner is still the legal owner and most likely is still on title.

I have found a significant amount of info that leads me to believe that birddogging is not really legal since it brings buyers and sellers together.

What are the legal documents or applications that are required to be filled?

Oh I know, it means NOT LEGAL. no matter how you phrase it.You have no way to go after these people, you can not see their past, if they have torn up other buildings, they might be deported.