« What is a short sale in the Santa Clarita Valley? | Main | What is The Perfect Gift For Tenants? »
Pre-Foreclosure Leads
By Billy | December 29, 2009
Looking for Pre-Foreclosure leads?
It’s all about the List data. In my experience there’s 2 ways to access this type of data and locate your Pre-Foreclosure Lead.
The first is Refinance Reject Records, or High Risk Loans.
These records are typically built with a few selects in mind. Selects that start the makeup would be records with adjustable rates and stated income. Many of these adjustable rate loans will soon adjust and were closed using stated income, meaning the borrower didn’t have to prove that they made enough money to qualify for the loan. All these borrowers had to do was “state” their income by writing an amount on the loan application. When these loans adjust and the borrowers aren’t able to make the payments, the likelihood of default will be present. Another select used is negative equity. Combining negative equity (upside down mortgages with stated income adjustable loans completes this list.
The second list come right from the Credit Bureaus. This list is superior to lists generated from the County Records.
Professional List Brokers should be able to access the Credit Bureaus for you to find pre-foreclosure leads. What’s important with this type of lead is to locate the prospect before an NOD is filed against their home. You can do that by selecting 30, 60, or 90 days late. This is a great pre-foreclosure lead that’s designed to find the prospect before their history becomes public through an official foreclosure notice. With the right list, companies can beat their competition by getting to the homeowner before the notice of default becomes public.
http://www.mindrivermarketing.com
Topics: Real Estate Buying, Real Estate Selling |
Comments are closed.