He practically invented the yellow letter. 

AFter you have selected your filters, only those within your criteria will show on the map, reds as the actives, yellow as the solds.

The cost of a yellow letter (yellow paper, hand-writing font, in an envelope, with a regular stamp) costs around $1.15-1.30 per piece last I checked. 

But here is the thing with pre foreclosures.1. owner in denial..2. owner will get a minimum o f 50 to 100 yellow letters.. sob story letters etc. to the point they disregard them because they all say the same thing.3.

TV spots 33. full-page ads in the yellow pages.

Seems like a lot of people are doing direct mail for their yellow letter campaigns. targeting Low/ working class neighborhoods and going after homes at 2/3's area value.

Also target them for yellow letters?

We switched to hand written yellow letters and we are very happy with our response rate.

I like the Post card approach and will do that, I think though for my first mailer, I'd live to send a letter as I have stamps left over from my first do it yourself yellow letter campaign to absentee SFH owners....( I have since moved to post cards and got a bigger list)...Any thoughts on some content for a letter?

Depending on your area, here is what I would do: research the areas you want to market in (im assuming for wholesaling), find the area that may have the most motivated sellers with homes that are most likely needing rehab in some way to add value (1985 homes and older), contact a reliable list broker, buy a list of 60,90,120 day LATE mortgage payment (this is different then default, NOD, NTS) this typically is .16 to .22 cents a lead, buy 1000, to save money get lined white ruler paper, hand write a note that you want to say to the mailers on a piece of copy paper using the lines of the ruler paper as a guide, then meticulously photo copy that note on the printer using the ruler paper as the printer paper so that you have 1000 nice lined paper print outs of your note that look like real hand written notes (do not hurry on this part, make sure it looks good, since this is your one chance at the mailing with that limited budget), then buy 1000 yellow greeting card sized envelopes from envelopes.com (canary yellow 4x5 ish), buy 1000 real stamps, HAND WRITE the first name of the late payment person on the top line of the letters, HAND write the mailing address on the envelopes, put a real stamp on it, then mail them off in batches of 250 a week if you are by your self or 500 if you have a partner (calls will come in and overload you).Get a way to track every call, return EVERY call even if its missed, go on all appointments, learn a ton, make something happen.This worked for me to get started once I had a budget.