Advice please! Preforeclosure list criteria

[Alida D.]

I need to know if when getting a list together of homeowners in preforeclosure should I pull only those names who have equity?? How much equity? 30%? 40% is that too high? Wouldn't the banks re-fi them if they had this much equity??

I want to do a direct mail piece and I need to know the smartest list to pull becuase my funds are limited.

Thank you