notice of default

I receive notifications of properties in my area that are going into default. Once I get a notification should I send a letter to the owner? Any ideas on how to word an offer. What would be the most important information to have before contacting the owner? Equity, loan balance, and what else? I am a real estate appraiser and can easily get this info. What else do I need to consider myself well informed enough to make my first move?

That’s the million dollar question I keep asking myself too! ;D