Get a highly converting sample letter to distressed homeowners that will help you buy their preforeclosure property. 1. Complete Lienholder Certification and Signature section. 2.Have application notarized. 3. A repossession is when a lienholder seizes ownership of a vehicle for breach of a security agreement (usually non-payment of the loan) In this 8-step guide, we'll explain how to buy foreclosed homes in Massachusetts and help you decide if buying a foreclosed home is right for you. We share several ways you can look for neglected or distressed properties and a variety of free email and letter templates you can begin using today! When you have this level of equity in a bull market, why not just sell and avoid foreclosure? Trademarks are the property of their respective owners. A full version of this publication is available on Fannie Mae's Website. Distressed homeowners. . . .