HOA foreclosure in Mecklemburg County, NC

[Ed Martinez]

i put in an upset bid on an HOA foreclosure and after pulling a title search, its got too much hair on it for me to move fwd. If i dont get outbid (fingers crossed), i have to fork over $7k. My first question is: can i just forfiet my $750 deposit? Or will someone force me to execute the foreclosure? Also, the house is worth $165k and the 1st DOT is $135k. Taxes are not past due nor is P+I. What happens if i move fwd and the old owner keeps paying his mortgage? Can i get a loan and payoff thier mtg and kick them out? It may be worth the trouble, but dont want to get in over my head. Help!.... Thx