🏦 Mortgage Foreclosure (What you want)
The bank is recovering an unpaid mortgage. If you win: deed is yours, foreclosed mortgage is
wiped out, max bid = your total cost for clean title.
✅ Target: active listings, bid visible, assessed value well above max bid.
🏘 HOA / Condo Foreclosure (Risky)
The HOA is recovering unpaid dues (~$5K–$20K). If you win: deed is yours
but the first mortgage survives. Bank will typically foreclose within 6–12 months.
⚠️ The $10K bid does not mean a $10K house — you inherit the mortgage.