Found Possible Preforeclosure

A suggestion posted on the board for finding preforeclosures was to check out the city tax records to see if there are any back taxes owing. Well, I thought this would be like a needle in a haystack, but I found 3 homes with back taxes in a great neighborhood.

So, my question is this.....NOW WHAT? I don't really know if they are in a foreclosure state or not. Do I call/mail them anyway using the preforeclosure letter freebie on the site?

How do I find out how much they owe? Do homeowners usually disclose that information?

2 of the homes are about 4 months behind on their taxes. The other is about 2 years behind.

Any suggestions for me? Any help or direction would be greatly appreciated!! This board is such a great resource.

Thanks so much!

Comments(1)

  • sanjosee21st April, 2004

    Prescreen your leads & do a search at the county recorders office to find all liens on the properties. It will tell you how much potential equity you are dealing with.

    I would mail a letter & follow up with a phone call.

    If they are motivated to do something they will disclose what you need to make a decision on how to approach the deal.

    My advice is to look for notice of defaults on mortgages in addition to Defaulted property taxes ( I think thats what you mean about city tax records). 3 leads aren't a big enough pool of candidates for doing a deal. I screen thousands before one turns up.

    Good Luck

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