Buying a pre foreclosure home is sometimes complicated. In my opinion you should speak with an attorney and get all the pros & cons. Remember when a person does not pay their mortgage that sometimes means that they are not paying their taxes as well. There could also be other liens on the home and you do know that all liens run with the property not the person. We have in the past sold 2 homes that were pre foreclosure and the home owners walked away with some money, their credit was not destroyed and the new home owners were happy. That doesn't mean that they got a bargin they got a good deal. Be careful, ask questions, and most of all check it out, check it out, check it out. In the long run it is always better to be safe then sorry. By the way if you need to speak with a attorney, we can give you the name of a few who will be glad to help you out.
Sinerely, Ann Marie Focca - Broker/Owner - A FAMILY AFFAIR REALTY