The filed judgments may not be ALL of the mortgages against the property. I have seen some home foreclosure sales around here that there where actually three different loans on the property. They only have to foreclose on one to regain the property. Some of the fees are based on the judgment amount.
It is a public sale if you want it you are free to bid it over what they are willing to go. As far as worrying about how the paperwork and tax issues are on the banks side. I have much better things to worry about that that. Most of these house are not worth what was loaned against them. They where bringing low dollars at the foreclosure sales. Some of the banks are buying them and selling them with financing to new buyer at much higher than auction price. That is just good business. These new buyers maybe out of the normal market now that the loan requirements are higher.
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Today's Featured Article - Show Coverage: Journey to Ankeny - by Cindy Ladage. We left Illinois on the first day of July and headed north and west for Ankeny, Iowa. Minus two kids, we traveled light with only the youngest in tow. As long as a pool was at the end of our destination she was easy to please unlike the other two who have a multitude of requirements to travel with mom and dad. Amana Colonies served as a respite where we ate a family style lunch that sustained us with more food than could reasonably fit into our ample physiques. The show at Ankeny
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