how to buy a house under pre forclosure or foreclosure - Zillow

For 90 day late notices; you just have to wait it out... most borrowers correct the deficiency way before any foreclosure proceedings.

For "auction date set", you need to show up at the auction with cash, but you need to do your homework first, finding out about all liens, and the condition of the property.

For REO (Real Estate Owned), they were already foreclosed on, but one needs to wait until the bank decides to put it on the market.

Source: http://www.zillow.com/advice-thread/how-to-buy-a-house-under-pre-forclosure-or-foreclosure/498971/

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