Will Trustees Help W/ Pre-foreclosures???
It seems our legal papers here have only about a 2 week notice before the acutal auction date, some maybe 3 weeks, not a lot of time to work with (especially when you still work 50/hrs/wk!) Will the Trustees help out by giving your name to their owners who are close to auction date and are going to lose their house?? Especially if the trustees know you can buy w/ cash?
I ma going to be FRANK and also JACK....
your question clearly shows u do not know about the process.
FIRST- know everything there is about it BEFORE U EVER BUY AT A TT
Or get together with an old timer.
The answer is depending on what state or what TRUSTEE.
Most will not give u anything.
Some have websites
Others give u something one time nothing the next.
If you KNOW THE TRUSTEE cuz u buy alot of propertys they sometimes will deal with u different than others ALTHOUGH They are not suppose to.
You can find all this out by doing your homework.
Go and do it .....in this biz u get a F buy losing your mulla!!!!
SKI
Ski, thanks for the reply. I haven't bought anything yet. Still in the process of learning the process. I don't want to lose any Mulla. I'm just floored by how many of our foreclosures still go to auction when presented with an option to sell their house. I was hoping that the trustees might help the owner to avoid the sale too. Your post suggests that most won't. I guess I can always contact a few and see what they say. Do you have any tips on getting responses from owners in the preforeclosure process???? And thanks again for your info! Kathleen.
I'm just floored by how many of our foreclosures still go to auction when presented with an option to sell their house. I was hoping that the trustees might help the owner to avoid the sale too. Your post suggests that most won't. I guess I can always contact a few and see what they say. Do you have any tips on getting responses from owners in the preforeclosure process????
I agree, most trustess will NOT help at all. They don't appear to be concerned that someone is actually going into foreclosure. Perhaps they are numb to it, since they deal with it all the time.
If you know the address of the property, the best way to find the owner is by looking at the county tax assessors website. There you can usually find the name and address.
You can use a skip tracer, too.
When you contact the owners, they are usually more than happy to talk to you. Some of them just don't know what to do, and are grateful for any help you can offer. I think it is best to talk to them face to face, or on the phone. Sometimes they are skeptical of letters.
Good luck!
In NC Trustees could not care less if a house goes to auction or not. They are simply representing the bank in a pwoer of sale clause, they bill hourly, takc on their fees, and will get their money either way.
We have had luck getting trustees to give us openign bids at auctions a day before they show up on the courthouse steps. That has saved us a load of time.