If you are looking at one of the "Realty Trac" posts that says a Notice of Default was filed against the property, the amount shown in the post is generally not the sales prices of the house but rather the estimated amount due on the loan, and the property is just beginning the foreclosure process when the notice of default is filed - it may or may not actually come up for sale as a foreclosure property. The owner could bring the loan current & remain in the home. If the home were to ultimately go into foreclosure & sell, it would likely sell for the fair market value of homes in the area. Also, generally a buyer does not take over the payments on the existing loan on a property when purchased - that loan is normally paid off, and the buyer has a new loan against the property.
Do you have an agent you are working with? I would be happy to help you out & give you some guidance - please send me an email at firstname.lastname@example.org & let me know what you are looking for.
Hope this info helps - have a good night!
Coldwell Banker Residential Brokerage
Sherman Oaks, CA