Get a highly converting sample letter to distressed homeowners that will help you buy their preforeclosure property. May include: A one-page foreclosure letter template designed for real estate agents.If you get behind on your car payments or don't have auto insurance, the loan company can take your car. This is called vehicle repossession. Foreclosure occurs when a borrower fails to make mortgage payments, leading the lender to repossess and sell the property to recover the owed amount. In this 8-step guide, we'll explain how to buy foreclosed homes in Los Angeles and help you decide if buying a foreclosed home is right for you. I certify that I, or the firm, company, or corporation I am authorized to represent, am the legal owner within the meaning of California Vehicle Code. In this 8-step guide, we'll explain how to buy foreclosed homes in Los Angeles and help you decide if buying a foreclosed home is right for you. The negotiated price was not the problem, nor was the loan. This will drive an increase in the concerns you and we hear from distressed homeowners.