Pre Foreclosure help in Union, NJ

[Ariel Deleon]

Hello everyone,

I'm looking at a house that is currently in pre foreclosure.

They bought it back in 2007 right before the crash for 445k.  The owners owe 324k on their mortgage and about a year in arrears on payments.

The house is in pre-foreclosure and whenever the auction date is set, the opening bid is asking for 375k.

Comps in the area are between 300-380k.

What kind of offer can an investor make on this deal?

Thanks.