Banks Bidding At The Auction
First: I have read in a few online places (here and there) that the banks are often present at the courthouse steps bidding on the properties that they are foreclosing on. Second, I have seen as well that "if the banks are not bidding on it, neither should you." So, first question: are these reasonably true statements?
And the payoff question: how can you tell if these bank reps are part of the bidding party (I see lots of guys at the auctions on their cell phones acting secretive and important ... is this the banker in contractors clothes? Thx in response for your help and insight.
Mark 
In judicial mortgage foreclosure states, an in my experience, the foreclosing mortgagee/Plaintiff usually makes the opening bid, then sits back and watches. Junior lienholders may participate, and bid up to the amount of their exposure, too.
In our market the trustee opens the bid in behalf of the lender they are rep' ing
Then wait.......if there are no bidders then the bank is the owner.
[addsig]