I live in CA and have taken two college level Real Estate classes and a few seminars, but no one seems to have any information that is actually available to the public on how to buy foreclosures, where to get the lists from for free and where to find the auctions. My college instructors advised to just buy a house via the "normal" route and avoid many of the problems people have with such properties, and the seminar instructors just seemed to want to sell their own mailing lists which just listed banks that didn't have any information you couldn't find on Google.
I've sent a few letters to Fannie Mae and have only received their "new home buyers' guide – which is very informative – but not helpful.
I'd like to invest in foreclosures and possibly "flip" a property and I know it isn't easy and it is a true risk of $$, but it seems like those in the know are keeping quiet about their resources – if this is public information, where do you find it without taking a get-rich quick seminar?
You can contact a few local mortgage companies and get set up on their foreclosure notification lists. Another option is to visit the court house, there will be posting for foreclosure auctions that will be taking place in the future. Also just a tip… if you happen to looking at Reality website and it says, "quick sale" that means foreclosure! These foreclosures can be financed; therefore, you would not have to have the cash in hand, as you would at an auction.