How can an investor bring a bbalance up to date with a pre foreclosure and rent to the homeowner?

[Portia Henson]

I may not be asking this correctly, but I want to know if there is a way for an investor to pay the outstanding balance owed on a pre foreclosure and get some sort of ownership of the home and lease to the homeowner who is in default for a certain period of time, then resell to them once their situation has improved?

If so, how can it be done, and generally how long is the process?