If an owner falls behind in their payments they are served a notice of default (NOD) after approximately 90 days. If they do not pay the full amount that is past due plus late fees and other penalties, they can be served a notice of trustee sale (NTS). If the owners do not make satisfactory arrangements with the lender or trustee, then the property could be sold on the courthouse steps in the foreclosure process. The amount shown could be the amount that is due when the NOD is mailed or it could be the amount due when the NTS is issued. Normally the property does not go up for auction for the amount that is listed. There are numerous factors you need to be aware of if you decide to buy a home that is auctioned off.
I have experience in buying homes at the auction, short sales, REO and regular sales. If you are looking for a home to purchase, please give me a call.