Help with pre-foreclosure direct mail

[Chris Pohlson]

Specifically I'm looking for information on the pros and cons of the loan modification process.  I sent my first direct mail piece to a home owner that is in pre-foreclosure.  She called me today and was interested in what I could offer but had already started working on a loan modification.  I feel like I could have provided her more value if I was able to compare the loan modification process with what a cash buyer could offer.  Being new and unfamiliar with loan modifications, I'd say my pitch fell flat.  Her ultimate goal was to try to keep the home so we left it for her to call me if the loan mod process fell through.

I was hoping some nice BP'ers could help expand my knowledge of loan modifications or direct me to a resource or two so I can be better informed for next time it comes up.  Thanks!