Bank Of America Express Equity Line
I did an app with them last year and had a ton of hassles and ended up not doing the loan.
I was in the bank and the rep mentioned the express equity loan. Well I applied for it and it was approved 90% in less than 2 weeks. They only asked for a copy of the deed. Rate is not great - since it is prime. We just accepted the desktop value they gave it since I did not want the hassles of an appraisal. No closing costs, etc.
It was so easy I tried on 2 of our other properties and had no problems there either.
Not sure if things were easy because allt he properties were mortgage free or not.
You might want to give it a shot
Thanks mcole. I am just trying to figure out what exactly to ask for at the courthouse. I say "can u give me a listing of all your pre-foreclosures" and they tell me...there is no such thing in texas. lol. So what exactly would it be called?
and what type of marketing are you talking about?
flyers,postcards,door to door?
Thats fine with me exept i need to know where to go,and like to have a NOD, or pre for. list.
Thanks!
Abel
When you go to the courthouse, it’s not “pre-foreclosure” you’re asking for. What you’re looking for are the NODs (Notice of Default) and Lis Pendens (if your state does any judicial foreclosures).
Keep in mind, once the process starts it’s no longer pre-foreclosure. They are in the actual foreclosure process.
Many areas also post that information in a local newspaper. In fact, it’s often required from a legal standpoint.
When it comes to marketing, people will use all kinds of things…postcards, flyers, newspaper ads, direct mail letters, bandit signs, etc. You may want to check out the MARKETING forum on this site. There are tons of discussions on who’s doing what and why.
Hope this helps a little.
first american realquest has a service that will notify you of NODs and NTSs. The service looks pretty robust, but there is a local guy that does this service for like 300/ 6mo. Daily NOD and weekly NTS (Santa clara county).
My local title produces a weekly PDF that you can subscribe to for free.
Thank s Again guys for your help. I understand Marketing, what i dont understand is locating property before the fact of forclosure. NOD is what im looking for. So Mcole you say i can look for a legal paper and see the nod in there? i will do that . I also want to know of the sites to go to so i can pay or subscribe for this service.
any ideas on sites?
Also i can contact my title company , but they give me only listings of forclosures before the auction...co that doesnt help.....maybe i can look around.
thanks guys!
Abel
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What areas (states) are you looking at? Just TX?