Upcoming Foreclosures

For pre-foreclosure homes on Realtytrac, I see numbers like 15k for "amount" on a home that if listed would...?

be 550k+. What exactly is this amount. Is this the outstanding balance of the loan? I don't understand why the homeowners would allow a home that is this close to being paid off to go into foreclosure.

Public Comments

1. RealtyTrac is posting the amount of the current deficiency. The owner is $15,000 past due in mortgage payments. You're not going to get a house for that amount of money, nor would an owner let it go to foreclosure.