NEWBIE QUESTION ABOUT PRE-FORECLOSURES

[Jason Pennington]

I found a home where the Owner is just entering into the foreclosure process ( I'm not an expert on this ). I was able to see the amount the owner is foreclosing on, meaning the amount they are default on. Not the entire loan balance. Would it be a strategy to offer to cover the default amount or someway get in to contract on basis of saving the home from foreclosure and maybe think about renting to them....or allow them to continue to live there until a pre-determined time and then get viable tenants in??? Can someone chime in on this one? I'd like to know about strategies that have and have not worked for you, but also are friendly to the ones involved please. Thank you!!