Subject-to existing financing after notice of default

[Devin Bost]

I'm trying to figure out what options I have with buying properties after the seller has received a notice of default. 

I've heard some investors have success with buying properties subject-to existing financing, but I'm concerned that there may be problems with trying to do that after the seller has already received a notice of default from their lender. 

Does anyone have experience with buying pre-foreclosure properties where the existing financing remains in place?