I have a question regarding foreclosures that I hope someone in the forum can answer. I was reviewing the website http://www.sandiegoforeclosurereport.com, and in the “action taken” section it states who the property was sold to. In the vast majority it reports “sold to lender”. Is this the original holder of the mortgage, or to a new mortgage holder providing financing for an auction bidder? I notice that in virtually every case the minimum and maximum bids are the same. This leads me to believe that these are becoming REO’s but I really don’t know.
If all these properties are indeed becoming bank- owned then a LARGE number of houses are about to become available. Would appreciate any input.
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