Do You Like This Pre-foreclosure Letter?
Do you like this pre-foreclosure letter? What can I do to make it better? My sole goal is simply to schedule a meeting with these homeowners. There are not many of these in my area so time is not an issue as of now. Would you include a letter of recomendation or maybe wait for my 2nd letter later this week?
All comments apprecated
James Homeowner
123 Main Ave
Anywhere, IA 50000
December 15, 2003
Dear James,
I’d like to introduce myself. My name is John Dough and I help homeowners who have run into outstanding financial obligations due to a variety of reasons. I work in the XXXX(your city) area as a private real estate investor and would like to offer my services to you free of any charge.
I am not asking you to ‘give’ me your house. I am just interested in helping. I am not a Realtor, nor am I associated with any real estate sales firm.
Please give me a call sometime this week and we can set up a meeting to discuss your situation further. I apologize that I have not contacted you before now so I would like to work to help you resolve your situation as quickly as possible. You can reach me at 515-555-5555. I am available during the day and evenings.
Sincerely,
John
Do you like the word "services" or possibly "consulting" better? Thanks again everyone!
[ Edited by myfrogger on Date 04/08/2004 ]
I like it, but then again Im wokring on my first letter as well.
Thanks anyone else?
I'd consider changing "outstanding financial obligations due to" to "financial challenges for
After "private real estate investor" I would add, "and I've learned a thing or two about creatively resolving foreclosures to everyone's benefit" to connote that you truly may be able to help him/her.
Though foreclosees get people who want them to "give" away their houses, I'd reconsider speaking of it in your letter. Could scare them away.
Offering your phone number is a nice touch. Good luck. Let us know how it evolves.
First you shoud state not who you are, but what you can offer.
If I were the homeowner in foreclosure I would not read it beyond the first sentence.
I shall be converting ISO containers into modernistic dwellings. so here is my goodie, to be delivered to people in foreclosure.
Written on 24 wt good paper.(hard to fold)
Please center and adjust the type styles
________________________________________________________________
Caps: I came by your property today, had a look at it. You have equity
Call me 818 760 2555 and I will return so that we can meet and discuss which of the many solutions is applicable to your special circumstances.
You are entitled to this free consultation by virtue of owning real estate in the County of -----------------. There is no charge and you are under no obligation.
I have been solving Real Estate and Financial Problems for over 30 years. I cannot think of a situation that does not have a proper solution. What is necessary now is your imput, you must sit down with me at your property.
Spend 30 minutes and I will come up with a way to solve your problem
Sincerely,
Dr Hakelepus (your name)
Dr. Hakelepus
Lic. 43498 818 760 5535
(underline the numbers and go bold on numbers.________________________
24 Wt cause it is hard to bend and holds up gives weight in the envelope. Hand letter the envelope if you like and write on the diagonal Delivered By Hand.
I use a very formal letterhead but the impact is the same with or without.
The advantage of hand delivery is that you have actualy seen the property I make a small note and nowdays I shoot a picture of the property helps the memory. I know all the things to do and also what cannot be done. This little message is loaded with hidden challenges, motivational triggers, but you do not need to know that just get it out and do a good job.
Have fun and enjoy. Lucius
All good letters, just as long as you are knocking on the door first. I never heard of mail working.
I actually have had pretty good luck with the letters so far, but the follow-ups are being done in person. Nothing works quite as well as a personal touch. There are lots of great letters out there, you just have to find one that works for you in your area. Good luck
NLSECOR:
NOW HEAR...THIS!!!
Last week I sent only 52 Letters out and 4 Telephone calls came back
I set 3 solid appointments for TODAY and the 4th says he'll try to get back to me b4 tuesday!!!
So NOW YOU'VE HEARD IT!!!
The [u]RIGHT[/u] Letters DO WORK
Hope this helps!
Derrick
DerrickAli,
I to work in pre-foreclosures. I use a foreclosure listing service to get my listings 20 days before the auction . When you and myfrogger send out letters is that to people in that same time frame,or do you find them earlier in the process. With only 20 days time is short, so I use the in person technique. Knock , knock, who's there. Hopefully it is someone who is open to hearing options available to them. Time is of the essance..
I'm new to the game of buying forclosures. I'm in it for the knowlege right now. I physically go to the courthouse and see the posted list of upcomming auctions. I still have time to deal with the bank, etc as long as it is done before the auction.
So is that a 1 month cushion? I know if they are not sold at the auction they usually back to the bank..
myfrogger,
I would eliminate the line: " I am not asking you to ‘give’ me your house. " and have "I am interested in helping".
Just my opinion.
-Ed
I have about a 2 month cushion. As I said I'm not entirely familar with this process yet so I'm still very much learning. My experience is more with what to do with a property after I purchase it.
Something got garbled. You might remove
I am not asking you to give me your house.
Change the line
I am just interested in helping
to
I am interested in helping.
Again, just my opinion.
I think your letter is good. I think when you send a letter, then you go visit the people it is kind of an ice breaker.
you can say Iam rchapa I sent you a letter saying how I can help you with your situation. Can I explain how.. I usually look at the numbers. Mortgage bal, back pyt, taxes, liens, if it looks good, I don't wait for a call I go knockin.
A very subtle point, based on techniques of verbal aikido (used by many sales trainers) and the power of words. I'd avoid using the word "interested." When's the main time you hear or use "interested?" (Hint: think telemarketers). "Interested" carries a lot of negative baggage, and we often find it preceded by "not," which can turn people off. I suggest sensual words (not that kind!) that evoke images; e.g., "how does that LOOK or FEEL or SOUND, what do you LIKE?" Words can be powerful, and we need all the advantage we can muster to paint creative and compelling stories and pitches.
James,
I am glad to see that you took the initiative to write your own letter. It took me a long time to finally do it and the response it great. I changed it to my personality and am sincere in what I say. The key is to sound like you want to help and have the answers, but can't do anything or tell them anything until they call and let you know whats going on. So far 2 out 3 three comment on how much they liked my letters. I realize some aren't able to write what they are thinking and get that across to the reader. so I would be willing to help or give you a copy of my first letter if you emailed me. **Please See My Profile**
...That is a great response % from your letter. Would you mind sharing the letter you use?
Thanks
Anita
Quote:
On 2003-12-15 11:53, DerrickAli wrote:
NLSECOR:
NOW HEAR...THIS!!!
Last week I sent only 52 Letters out and 4 Telephone calls came back
I set 3 solid appointments for TODAY and the 4th says he'll try to get back to me b4 tuesday!!!
So NOW YOU'VE HEARD IT!!!
The [u]RIGHT[/u] Letters DO WORK
Hope this helps!
Derrick <IMG SRC="images/forum/smilies/icon_biggrin.gif">
Excellent info on letters folks! I am always looking for new ideas and info on ways to improve my letters. I hope this also helps others here.
I'd probably remove the apology at the end. I think you need to be definitive and strong in your writing. The apology sounds like you slipped up or were not responsive enough.
Let us know what kind of response you get.
Good Luck!
How about using the letter provided here on this forum under "freebies"... here is a copy of it in case you haven't seen it ...
--------------------------------
Date
Your name
Your address
City, State, Zip
Dear (recipient's name):
I realize that having your home in foreclosure can be a difficult situation. However, if you do nothing, hoping for a miracle, your home will be legally taken from you by the bank in (# days or months till bank forecloses on property). Not only do you risk the chance of losing your home, but just as importantly you risk losing all of the equity you have obtained in your property. You do have an option that you can use to resolve this matter, but time is quickly running out to use it.
Let me help you find peace of mind and put an end to your foreclosure problem. I will provide you with cash for your equity within 10 days.
You need cash right now and I will provide you with the cash that is needed.
The clock is ticking. In just a short time your home will be taken from you by the bank.
The worse thing that you could do is ignore this letter; turning your back on a sure thing.
I care. I have taken the time to write you a letter which could save you from a dreadful situation. Of course, you are skeptical. Who wouldn't be? That only proves that you are an intelligent person.
Let's face facts. If you can not pay the bank what you owe them by (date property is to be foreclosed on by bank), your home will be taken from you and you will also lose all the equity that has accumulated in your property. In this situation the best thing you can do is stop this foreclosure by selling your property for the amount of equity you have in it.
This will benefit you in several ways:
You will now have cash to start over and deal with the process of planning your future.
You will not have a real estate bank foreclosure on your credit report.
If needed, you will now have the cash to find a new home or place to live.
You will close and have cash quickly, rather then putting your property on the market and risking not meeting your foreclosure deadline.
Remember, I can provide cash for the equity within your home in 10 days.
What do you have to lose? In addition to losing your home, you will lose the equity in it if you do not take immediate action.
Please allow me to help you resolve your problem. Just pick up the phone and call me or contact me through any of the means listed below.
Contact Info for (your name):
telephone: (your #)
fax: (your #)
e-mail: (your e-mail address)
Your time and consideration is very important in regard to this matter.
Sincerely,
(Your signature)
(Your name
-------------------------
Remeber to use omega1 WOW SYSTEM and you'll never go wrong:
w - Worth
o- Owe
W- Want
When you get the homeowner on the phone or in person, concentrate on finding what the hose worth, what he owes and then you'll knw if you want it or not.
Good lack!
omega1
Derrick,
Post the letter you sent. That does sound like an awfully good response rate.
Quote:
On 2003-12-17 18:16, goldmine wrote:
How about using the letter provided here on this forum under "freebies"... here is a copy of it in case you haven't seen it ...
<snip>
Thanks for pointing that out. Although I feel that letter is a bit too dramatic and long-winded, it was a good basis for something slightly more aggressive and more to the point. Here's what I came up with (please let me know what you guys think of it):
Dear <homeowner's first name>,
I realize that having your home in foreclosure can be a difficult situation. However, if you do nothing, hoping for a miracle, your situation will only get worse, until one day you wake up and your home is gone and your personal credit utterly ruined. I’ve seen the effects a foreclosure can have on a person, and believe me, it isn’t pretty.
As a professional real estate investor and foreclosure specialist, my entire focus is on helping people just like you get out of situations just like the one you’re in now. I can get the wolves off your doorstep and help you salvage what remains of your credit.
I know you’re skeptical, and that’s perfectly rational. Rest assured, I have no “system” and I’m not working any “angle.” All I want to do is help you get out from under this situation and get on with your life. However, before I can do anything, I need to hear from you. Give me a call at the number on the bottom of this letter right away and we’ll get together to see how I can help you.
Sincerely,
A. Hotkarl
P. S. The clock is ticking! The sooner you contact me, the better our odds of finding a solution to your problem.
I had to get rid of all the language about equity and cash. That would give the homeowner a sense of "I'm going to get full value for my house." To plagierize one of my favorite gurus, that just ain't gonna happen. If the homeowner thinks he's walking away with cash, he's not motivated enough for me and he'd be wasting my time and his even by calling me.
Anyway, just my $0.02. Feel free to give me your opinions.
Hakuna Matata
Truckin Meathead