So I have a list of Pre-Foreclosures- Now what?

[Joseph Ferrer]

Aloha All,

Pardon my ignorance as I'm new to the foreclosure and pre-foreclosure process. I recently acquired a listing of them in my area, and I'm not sure where to begin. 

Do I just call these people up and say, "Hey I can buy your house!"?

Can someone please explain to me what "Amount of Default" means? Is this the amount that is owned to the lender that the borrower is unable to pay? There are some properties on this listing that are as low as 20k for a place here on Oahu.

Any help would be greatly appreciated.

Thanks!

-Joey