Acquiring lists of people in trouble....How?
What are some of the most effective ways to acquire listings of people who are behind on mortgage payments? I know mortgage companies and Bank loan departments are a good source. Is this something that they will do or will I just have to have someone on the inside who would be willing to provide me with these lists.
Any suggestions or better methods possibly??
hi,
NODs/Lis Pendens are public information.
Here are some other ways to find potentially motivated sellers:
-local legal publication
-letters to realtors about specific mls listings (caution- less deal potential here/but least costly-)
-letters to lenders asking for their lists
-court house
-websites (pay services)
here is a tip: realtors and lenders have the share the same goal as you...$$$. I'll let you figure out the rest.
as far as "what is most effective?" i think this is a subjective question. some people like fresh lists and others prefer to market when the NOD is more mature. in the end, it's not how to get your lists - it's persistence with it.
Vis