Forebearance / pre foreclosure situations

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I’ve heard of investors stepping in right now and taking ownership of homes that are in forbearance and headed for foreclosure. I understand you can have a deed signed over to you, notarize it and pay RE-in statement fee? But what happens to the mortgage? Can it still get auctioned and sold? How is that handled. Specific per bank?

I’m just curious how this process works in general. Any helpful knowledge or experience is greatly appreciated!