One big potential deal-killer in buying foreclosures is the homeowner. If the homeowner does not trust you, buying their home (even at a foreclosure auction) can become a greater challenge. To prevent this setback, you need to build trust with the owner -- and building trust requires you understand where they are coming from.

People dont stop paying their mortgage because they dont want to pay, but rather because of factors that afflict everyone at some point in time. Knowing why the owner is losing their home can help you connect with them and gain their trust.

Three Main Reasons People Lose Their Homes

1. Job Loss - Due to economic conditions employers are having to release great employees because of many factors and people do not have the reserves to withstand many months without a paycheck. More importantly, although some are getting employment within a few months, the pay rate is substantially less.

2. Divorce - In 1999-2000 this was the leading contributor to the foreclosure rate. Since 2001, the rate has not decreased but job loss has doubled in some parts of the country.

3. Bad Health - People fall ill and make a choice between making a mortgage payment or paying doctor bills. In some people's minds, the latter easily takes precedence over everything.

Armed with this understanding, you will be much more likely to gain the trust of the homeowner when you meet them, than going into the meeting blind.