Should This Be A Concern???
I have recently started to market to persons in pre-forclosure, and so far I have had a good response. I am always a little concerned about speaking with someone other than the person I originally contacted when attempting to get back in touch with them. Has anyone let the cat out the bag that the house is in forclosure, when other persons living there arent yet aware? would this be a potential deal breaker? just curious, cause im always a little hesitant to say that i had spoken to someone earlier about purchasing their house.
I'd speak with either mortgagor... but never with anyone who was not a party to the foreclosure.
" Are you aware that I've been speaking with your (husband, wife, partner) about the pending mortgage foreclosure and possible options that may be available?
I'd like to meet with you both at your earlies convenience...."
I've just heard of a couple living in a neighborhood that I looked at to buy a house
The truckdriving hubby gave his check to wiffy and she didn't make the payments for like 9 mo. She didn't tell him that the house was being foreclosed and she spent all the money on crack.
Needless to say, I didn't buy the house in that neighborhood. LOL.
SO, anyway, if you would've got ahold of the husband in this case, he wouldn't have known the house wasn in foreclosure.
So, to answer your ?, yes it happens.
Sam
You should of sent a letter explaning options for saving the home. Example would be a Bridge loan to cover the default amount until the home is sold. Foreclosure Bailout loan with interest only payments until the home is sold. After the shock, then tell to sell without the MLS save 5-6% of their equity.
You should of sent a letter explaning options for saving the home. Example would be a Bridge loan to cover the default amount until the home is sold. Foreclosure Bailout loan with interest only payments until the home is sold. After the shock, then tell to sell without the MLS save 5-6% of their equity.