The foreclosure process has roughly three stages: 
pre-foreclosure, auction and real estate owned (REO). 
It?s during the pre-foreclosure process that a consultant can
help.  At that point, the bank notifies the homeowner that the
debt needs to be paid, and gives a certain amount of time for
this to happen.  If it does not, the bank takes ownership of
the house, and will put it up for sale at an auction.  
If it is not sold during the auction, it is REO or owned by
the lender who will try to re-sell the home.  
Foreclosure homes cost banks money and time, so lenders would
prefer to avoid the process.  Foreclosure consultants who come
in during pre-foreclosure can help the owners figure out other
methods to settle the debt.