I think the Realty Trac mapping tool isn't pointing to the right house.
First: There aren't any homes coming up on this street with an NOD, I use other reliable systems to find public NOD's & none of them are showing any Notice Of Defaults for this street.
However, there is 1 home that has an original 1st loan for exactly $120K, they also have a small 2nd.
If someone got so far as to get a default on such a low loan balance, it is EXTREMELY unlikely that you could just waltz in & pick it up for $120K, the 2nd would also have to be paid off & this owner could easily sell this home for well over $120K & walk away with cash having received multiple offers.
A comparison to what I'm talking about is this: Let's say a beach front home in Newport Beach is coming up with a Notice of Default for a loan balance of $400k, the property is really worth $2m & still a killer deal would be $1.8M for any buyer. No one is going to be able to walk in & "steal" it for $400k.
Feel free to email me if you have any questions