click to contact us
TODAY'S TIP:

How Do I Find Homeowners Facing Foreclosure?

              If you are ready to become a real estate investor who primarily focuses on PreForeclosures, let’s first examine how you’re going to contact these homeowners.  If you can’t speak with a homeowner facing foreclosure, then you’re not going to be a very successful PreForeclosure investor.

              Unfortunately, you can’t just go down to your local foreclosure store and start talking to people!  Realize that a pending foreclosure, for most people, is a very personal, and often embarrassing situation.  Most people don’t advertise the fact that they’re having problems making their mortgage payments, which makes it difficult to contact them.

Don’t worry, however, since there are many methods to finding these people.  My personal favorite method of finding these homeowners is to have them contact me!  That way, I know that they are looking for help, and that they are motivated to stop the housing debt problem that they’re currently facing.

When the bank decides to foreclosure on a homeowner’s property, they file what is often called a Notice of Default or Notice of Trustee’s Sale.  This is done at the local county courthouse of the county that the respective property is located in.  The bank sends this notice and it is posted as public record.  That means that anyone who can find the county courthouse records can see this public information.

If you’re going to be a PreForeclosures investor, knowing what new foreclosures are being filed at the county courthouse is very advantageous.  It gives you the inside track as to which new foreclosure filings are being recorded in your respective county.

Another avenue to finding homeowners facing foreclosure is to have them find you!  This may sound counterintuitive, but when a homeowner calls us looking for help, we know that they’re really serious about stopping their foreclosure.

How would a homeowner find us if they wanted to stop foreclosure?  If we advertised, they could find our name and number.  This could include print or online advertising.

We could also network so that others know we are in the foreclosure prevention business.  Classic examples of people to network with would be people who would hear about someone being behind on mortgage payments.  This list of people could include realtors, loan officers, bankers, attorneys, even the local mailman, just to name a few.

If you’re serious about becoming a PreForeclosure investor, you have to get your name out there so people can contact you about help with their home.  You can do this by contacting them directly, or marketing yourself and your company so that the homeowner can contact you directly.