Pre_Foreclosure

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Hey Guys,

Im a newbie at this and dont' know much about real estate at all it just really interests me and im looking to start investing. What I think I want to start investing in are pre-foreclosed housing. What does everyone think about pre-foreclosed housing. I have a lot of questions, but one of the biggest ones is the following and I would greatly appreciate any input:

When buying pre-foreclosed housing, the buyer pays off the existing loan amount due from the owner defaulting their mortgage right? Is there anything else besides this? Everything I have read up about pre-foreclosures doesn't really go into the drawbacks of pre-foreclosure.

Basically, I am looking to the drawbacks to pre-foreclosures. I know a lot of the benefits but I also want to know what the drawbacks are. Thanks!