Sample Deliquent Homeowner Letter
Please comment on this Sample letter and tell me what you think? What I do is have a company letter head paper and hand write the letter.
Dear Mr. John Smith,
As you already know, your home is in financial distress. There are other options for you to take. We understand your dilemma and would like to help.
The worse thing you can do is ignore this letter and lose everything to the bank. We have taken the time to write you a letter which could save you from this dreadful situation. What would you like to see happen regarding the bank attempting to sell your home?????
Sincerely,
Verne_J
714-555-5555
I have read other sample letters and used some text for others.
Tell me what you think??
Your letter is to short.
#1. State the problem.
#2. Give them solution options.
#3. "WIIFM" what's in it for me.
#4. Who are you and how are you going to help them?
#3. Testimonials.
(Read Ted Nicholas's "Magic Words That Bring You Riches")
Then send a second and third followup postcard or letter.
To your seccess,
Rudy-Austin
Verne, to me the tone of your proposed letter sounds negative and threatening. This is not what your homeowner wants to hear. He is probably hounded by bill collectors, and the phrase, "the worse thing you can do is ignore this letter" sounds like a bill collection notice.
What your homeowner needs is a solution, and that should be the impetus of your letter. He is already aware of his dire situation -- you will go a lot farther by helping him maintain his dignity.
Your letter should be along the lines of "I can solve your problem", "I can make up those back payments for you", "I can save your credit rating", "I can put money in your pocket."
All good positive stuff he wants to hear. Your chances of his responding will up dramatically.
I don't like it. I like your hand written idea, but the content of the letter is kind of depressing, and you're coming off like a swarming vulture instead of someone that really cares about people. You gotta remember that when people are in the position where their house is being foreclosed on, they are really bumbed out. A letter like this would make a woman cry and her husband get really pi$$ed! Saying more positive things instead of threatening them with the innevitable would probably be more effective. Say things along the lines of helping them out with a fresh start, or that you can give them the opportunity to start over again with their credit intact. I'd also give them just a little bit more of an inkling of who you are and what you do. The human imagination of someone in a bad situation is not a good thing to let run rampid. If I got this letter, I'd think it was from another lender for some reason. I think it's because, if I got this letter, I'd be in a lender hating kind of mood and since I hated this letter I just got, I'd think I must have gotten it from one of the lender's jerky friends or something. Oh yah, and I'd leave that line out about how you spent your time to write the letter. Don't act like you're doing them a huge favor quite yet.
Many long years ago out here in LaLa land we had a run of heavy foreclosures. Most of us in the business knew that it was just a jolt as the population pressures were increasing and the overall economy sound. Many letters were sent to those in foreclosure.
My favorite was a hand written letter which began. "Mother ask'd me to write you because you are in trouble and she wants me to help you. bla bla bla.
The writer a local Goniff by the name of Barton J. Wander. A speculator of devious ancestry and one of the biggest of the single operators in the foreclosure business.
I did not bother. I took the passenger seat out of VW Beetle, installed a tiny desk and a small typewriter. Quit Claim Deeds, Grant Deeds etc. etc. etc. Trust Deeds, you name it. I was a notary and I notarized the deeds which I took in the name of my business associates. I just bought the properties. Sometimes three a day. I then brought current the properties which were mostly FHA and GI deals. I sold them many times for nothing down. Took seconds for my profit never less then $5,000 wrote them until paid at 5% interest. Give with one hand and take with the other. I got a lot of families into fairly new good houses. In those days the assumption of existing encumbrances was not hard. Lots of fun. The prices have changed but the method is still workable. Oh yes I no longer drive a VW Beatle. Lucius
Greetings:
It's beautiful ! If you go in another direction you will be way off the subject. I have a simular letter it affords the property owner privacy and the letter is realistic and warm. I sent one and at first I didn't get nothing,then they started rolling in. I sold then to Investors for a finders Fee.