The three types of foreclosures would be as listed below:
Pre-foreclosures are at the stage where the investor is likely to be
able to relieve the distressed homeowner of any further dealings
with the property in question. Here the property owner’s credit
rating can be saved from further damage when the transaction to
take over the property commences.
Foreclosure stage is where the property position has already
reached dire conditions thus gaining the attention of the courts.