Listed Foreclosures are bank owned properties that are actively listed with a Real Estate Broker.
Pre-Foreclosures are properties in which the owner is behind on their payments to the mortgage company or have been purchased back by the lender but have not been re-listed for sale.
Auction Foreclosures are properties owned by banks that will be auctioned off. Many experienced investors compete at these auctions and though individual homebuyers may participate in the bidding, it's often a challenge to out-bid the investors. Many Auction Foreclosures occur at the Court House Steps. Consult your local newspaper for dates and time.