There are two types of potential foreclosures: judicial foreclosures and non-judicial foreclosures. Judicial foreclosures require that a court approve and oversee foreclosure auctions. Non-judicial foreclosures allow the lender, whether a bank, government agency, or private lender, to schedule, arrange, and oversee a foreclosure auction on their own.
Depending on whether the law in your state requires judicial foreclosures or not, foreclosure auctions will either be held by a representative of the court, such as the County Clerk or Sheriff, or a trustee of the lender, usually a lawyer or representative of the bank or government agency.
Read more: How Does a Foreclosure Auction Work? - Foreclosure Homes on Sale http://www.foreclosurehomesonsale.com/blog/how-does-a-foreclosure-auction-work/#ixzz2CFCNy0dj... more
Houses are out there. I just sold a foreclosure in Wauwatosa. The best way to find them is through an experienced realtor. There are codes for foreclosures that you don't find on Trulia and realtor.com etc. Have an agent help you.