I've came across two Pre-Foreclosures nearby my neighborhood. Here are the questions I have:
1. Does the listed foreclosure price same as the amount the house owner owe to the loan?
Property1: The listed price as 50K, but the estimate price is 460K from totalviewrealestate.com
Property2: The listed price as 715K, but the estimate price from totalviewrealestate.com is 967K.
2. How long does it take from the posted date of Pre-Foreclosue go into foreclosue? I guess this the time that I can contact the house owner to stop the foreclosure.
3. What's the best approach to contact the house owner? Should I just drop a short letter in their mailbox along with my contact number and email address?
This forum contain so much for a newbie to learn and hopefully someone can help me carry out my 1st step. It's so exciting, but scary to me.