Even the rich and famous are not immune from foreclosure situations.

Case in point: Pop superstar and cultural musical icon since the late 1960s, Michael Jackson, is in jeopardy of losing his sprawling 2,800-acre Neverland Ranch in Los Olivos, Calif., to the lender, which recently filed a notice of default in the amount of $23 million.

We sift through countless distressed nationwide real estate listings each and every day. In fact, at press time we had more than 1.5 million listings currently available on Foreclosure.com.

With this massive volume of accurate data it is hard to point out each and every instance. We’ve been doing it more and more with our “Deal of the Day.”

However, we felt compelled to pass along this latest news of the Jackson foreclosure to illustrate that unexpected situations constantly emerge that can trigger a default notice — and it can happen to anyone.

To check out the listing on Foreclosure.com at 5225 Figueroa Mountain Road in Santa Barbara County click here.

It’s important to note that this property is in preforeclosure. Indeed, Jackson still owns it and the bank has not repossessed it … yet. In fact, he has about 120 days (February 2008) to bring the loan current and stop foreclosure.

On the other hand, an independent investor can also work out a deal with Jackson and the bank in the next few months to purchase the ranch while it’s in preforeclosure. He no longer lives there, which means that it may be possible to settle for far less than the $23 million owed to the lender.

Who knows …. someone could be in for a real “Thriller.” That’s because there is no telling if the elephants, giraffes and other animals, as well as the high-end toys that could be included in a package deal.

Preforeclosure expert Lance Young is back by popular demand — his debut presentation “Preforeclosure Deals” is the most-attended Webinar in the history of Foreclosure.com Webinars.

That’s the reason we decided to bring him back for an encore performance.

During a 90-minute Foreclosure.com interactive educational Webinar, Lance will walk you through his easy-to-follow and wildly successful techniques to quickly make tremendous profits with distressed properties.

In fact, he’ll teach you how to find, negotiate and resell properties for big bucks with just a $10 deposit!

Here are just some of the tips you will learn:

• Where and how to find preforeclosure properties
• How to easily buy and sell preforeclosure properties
• Learn to negotiate with banks to get the best deals
• How to maximize your profit on EVERY deal

Catch this amazing opportunity to learn all about the preforeclosure process on Thursday, November 8, 2007, at 4 p.m. ET. Register online right now — it’s a cinch and spots are limited!

CLICK HERE.

Lance’s expertise in real estate investing is grounded in more than 19 years of independent real estate deals and mentoring of novice investors. His investing techniques require just a $10 contract deposit and 10 hours a week finding the most profitable opportunities.

That’s it!

So if you want to learn the proven tips and investment strategies on how to take advantage of one of the most lucrative investment opportunities in real estate, preforeclosures, then you must check out this one-of-a-kind Webinar presentation.

Space is limited, reserve your seat today!

Webinars are LIVE 90-minute educational sessions that let participants see, hear and interact with real estate experts right from their personal computer screens. In fact, Webinars are driven in part by visitor feedback and questions that are posed during the sessions. For more information and course offerings click here.

Do you want to learn how to find, negotiate and resell properties for big bucks with just a $10 deposit?

Great, because industry expert Lance Young is going to show you how to do just that when he shares his blueprint for success during an online real estate training session called, “Preforeclosure Deals.”

During a 90-minute Foreclosure.com interactive educational Webinar, Lance Young — a renowned real estate investing expert — will walk you through his easy-to-follow and wildly successful techniques to quickly make tremendous profits with distressed properties.

Here are just some of the tips you will learn:

• Where and how to find preforeclosure properties
• How to easily buy and sell preforeclosure properties
• Learn to negotiate with banks to get the best deals
• How to maximize your profit on EVERY deal

Catch this amazing opportunity to learn all about the preforeclosure process on Tuesday, August 28, 2007, at 9 p.m. ET/6 p.m. PT. Register online right now — it’s a cinch!

Lance Young’s expertise in real estate investing is grounded in more than 19 years of independent real estate deals and mentoring of novice investors. His investing techniques require just a $10 contract deposit and 10 hours a week finding the most profitable opportunities.

That’s it!

So if you want to learn the proven tips and investment strategies on how to take advantage of one of the most lucrative investment opportunities in real estate, preforeclosures, then you must check out this one-of-a-kind Webinar presentation.

Space is limited, reserve your seat today!

Webinars are LIVE 90-minute educational sessions that let participants see, hear and interact with real estate experts right from their personal computer screens. In fact, Webinars are driven in part by visitor feedback and questions that are posed during the sessions. For more information and course offerings click here.

The preforeclosure stage is a time when a homeowner is behind on his or her mortgage and the lender has filed an official Notice of Default (NOD) or Lis Pendens (LIS) to recoup the payments.

This will often lead to foreclosure if the homeowner cannot come up with the cash or negotiate a deal with the lender to remain in the home.

Rather than face eviction and endure personal credit turmoil, a distressed homeowner in preforeclosure will often look to sell the property as soon as possible and use the proceeds to pay off outstanding debts with the lender and relocate.

It’s an unfortunate situation — one that is outside the control of anyone but the homeowner and lender. However, working with a homeowner to resolve the matter before foreclosure is one way to help and provide him or her with much-needed relief.

It can also translate into huge savings because preforeclosure investing gives you the most options and highest percentage of profit.

Here’s a tip to get you started:

When working preforeclosures, the earlier you make contact with the homeowners, the more options you have to capitalize on great deals.

How do you do that?

First, you need to identify homeowners in your area who are in preforeclosure. This can be accomplished at no cost or obligation using our FREE 7-Day Trial.

With a solid set of leads it is then smart to drive into the neighborhoods and canvas the homes from the curb to determine which are the most desirable.

The next step is to communicate with the homeowner. This can be done in a few different ways, and we recommend that you try multiple approaches to ensure that you get noticed by the homeowner.

Here are a few quick methods to contact a homeowner in preforeclosure:

• Letters
• Post cards
• Contact the homeowner’s attorney
• Direct purchase
• Short sale
• Mortgage purchase

We expand on each of these strategies in our e-Book entitled “Cash-in on the Foreclosure Process: How to buy a Foreclosure.”

This educational resource is packed with tips and advice that is required reading if you plan to get started investing in distressed real estate.

Best of all, we’ll email it to you at no cost with our FREE 7-Day Trial.

Part 1 | Part 2 | Part 3

This week we’ve discussed myriad benefits of pursuing preforeclosure deals. Basically, it’s a fantastic opportunity to crack into the real estate investment market.

Here are our final thoughts on what makes preforeclosures so desirable:

• Lenders prefer to liquidate a bad loan rather than take property back. Therefore, you can request that a lender discount what is owed on its payoff. This strategy, which can’t be done on a loan not in default, can create a large equity spread on a house that is totally “maxed out