Whats a Pre-Foreclosure?

Question:

Answer:
Pre-Foreclosure means that the bank has sent a notice of foreclosure, but the actual foreclosure itself has not yet happened. This is often a good time to buy a house because you can sometimes talk the bank into accepting less than what is owed as payment in full. This is called a short-sale, it can be a little difficult depending on the bank.

A really good resource for questions about non-traditional real estate is http://www.ReiClub.com. It is the most often referred to site by professional real estate investors.

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Id say right when an Notice of Default (NOD) is filled on your property. Usually when your 3-4 months late on your payment.

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