Pre-foreclosure Question
I am planning to buy a house just at the point when the owner is behind on the payments. At that time, I am planning on sending the owner I BUY HOUSES letter hoping to attract him.
Is there a list which I get in the courthouse of my city a list of property addresses where the owner is behind on his payments. My understanding is that when a homeowner is behind on his payments, the lender files for a pending foreclosure proceeding with the court house. Is that right?? If so, which department in the courthouse can I find that list? Also, is this a good way to buy a pre-foreclosure property?
Thanks
You should probably check with the county clerk. They should have the "lis pendis" information you are looking for.
Sincerely,
Mario Costanz[ Edited by Mario11779 on Date 10/05/2004 ]
There is no such list. Lenders are not going to publicize names and addresses of their clients that have missed payments for a mulititude of reasons.
You're not going to find about them until the lender has filed a notice of default or judicial complaint at which time every foreclosure investor in the county knows about it.
You need to also consider motivation; is a homeowner more motivated to sell their house at the beginning of the foreclosure period or nearer to the end? The answer is the end. In the beginning they're still in denial expecting a miracle to happen and save their house. It's usually not until they get a notice of sale that it finally hits them.
[addsig]
You can usually pick up a list from the county sherriff office. In Union county it cost a $1 per sheet. However when I was checking about hudson county I read All properties sold at auction are advertised on Mondays and Tuesdays in The Jersey Journal and in The Star Ledger. notices of sale are posted for public viewing at the Sheriff's Office, Jersey City, New Jersey.
The Sheriff's Office does not have a list of properties to be sold for general distribution.
Hope this helps good luck.
Question to all: What would the contact information for leads of people who are behind in their mortgage but not yet in foreclosure be worth to an investor? How much would you pay per lead and how many would you be willing to buy? It could be targeted to your defined area or zip codes.
I hope to get a large amount of response to this question.
Thanks,
Mario Costanz
Great question Mario! I bet most people would pay a pretty penny for something like that. I know I would.
DaShow, how much would it be worth to you?
Mario,
I am beginning to think you just want to sell your services. I have seen in multiple other forum topics, you asking other individuals,, over and over, about the value of these so called leads?
Perhaps you can tell me two things;
1)do you think your leads are valuable, if so, why?
2) How much do you think they are worth?
SacVestor