Purchasing a foreclosed home can be a valuable investment. Finding a pre forclosure can be an even greater investment. Pre foreclosures are homes where the mortgages are in default, the bank has made notice of foreclosure, but the process is not completed. These properties will be listed on pre foreclosure listings.
These listings are available to the general public through county records and newspapers. There are also many web sites that offer this information. Making contacts within the REO (real estate owned) department of banks is another way to gain access to pre foreclosure listings.