Pre-foreclosure Question????
On this particular deal the "client" is 3 months behind in payments-2 mortgages with wells fargo. The property has been appraised at $350k -the balance is $215k of both loans. They are asking $50k or whatever they can get to move. What steps would I take to tie this property up immediately? and most importantly make a quick profit and help the owners? 
Do you have any $ to play with? Can you give them moving $ and pay what the are behind? Can you make a few mortgage payments?If you can it sounds like a sweet deal.
Good luck
Joe
if you have money, ask them to sign the place over to you (warranty deed) for 5k and have a separate contract with them for whatever else you'd like to give them (the other 45k in 0% payments over 5 yrs or so would be cool). that 5k just makes them feel like you're not "taking" it literally. then lease option that bad boy and start counting your ducks.
quicker would be to seal it up under contract for 60 days and find a buyer at 90% fmv (great discount for oo buyers) - then close on that bad boy as soon as the new buyers give earnest money.