The answer is very simple, same as you are trying to buy chipper and save money which you can sell and make money. The banks are doing the same and the worse is that they do it with our own money.
every time you put more many in the bank, you give them more power to do what they do. and all boils down to interest. lf you buy a house and get a 30years loan for it: let say $300K with a fix rate of 5%. that means that at the end of the loan you paid the bank ~$280K on interest alone. so if you buy the house cash, the bank lost the opportunity to make $280K plus more. so that is why they outbid you. tho other thing is now they sold the house to someone else (John X) that doesn't have the cash and is willing to pay the interest.
now John bought it and didn't miss a payment for 5 years. now he lost his job and can't keep the house and let it go to foreclosure ( back to the bank)
At 5 years into the loan, John already paid the bank $73.5K on interest alone. and the balance of the house is $275K (foreclosure value?) so the bank can outbid you up to ~$348K (73.5 +275) my guess.
If that happened at 10 years, the interest would be $138.3K and the balance $244K.(foreclosure value?) so the bank can outbid you up to ~$380K (138.3 +244K) my guess.
so either way, if you finish the loan or fail, the bank wins. that is why they are in business.... more
Trulia customer service may not see your post here in Q and A, Trulia posts pubic notices that come from county court houses and registry of deeds when a foreclosure notice is filed, you may want to check with the source and see as there are many sites that also publish this info, to reach cust service scroll to the bottom right and click on help center... more
I'm not sure. The "foreclosure" listings you see here aren't very accurate. Is it possible you have missed a few payments and the lender has filed an NED (notice of election & demand with the county)? The listings you find here on Trulia and other sites like Zillow get pulled from different sources -- like county records. It doesn't mean they are for sale. If you notice, the listing doesn't say "For Sale".... more
Unfortunately it may be more difficult to accomplish than you think. To get your home off of Trulia, try contacting Customer Service. However, sites like Trulia get the foreclosure information from other syndicated sites, so the old information about your home may still exist out there on other real estate sites.... more