As a note holder in a foreclosure, how likely am I buy the property? (details)I am one of three note holders on a property that is in the process of foreclosure: Note holder 1: Bank A ($650K owed) Note holder 2: Myself ($100K owed) Note holder 3: Bank B ($700K owed) "Bank A" has sent a notice of foreclosure with a scheduled "sale date" for mid-November (which I assume is the auction date). It is my understanding that Bank A will bid the amount they are owed.. I would happily bid up to $1m, because I love the property and think it is worth much more. Is "Bank C" likely to outbid me, considering that is more than they are owed? If "Bank C" does outbid me, do I have an option to bid higher? I realize I sound extremely foolish here, but I did not expect my personal loan to result in the property's foreclosure. And (obviously) I have never been in this situation before. I have a call scheduled with my attorney later this week, but wanted to get some insight from the community first! August 07 2012 - US0YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.