I am just wondering how many investors even have access to list in their comunity of people that are late on the mortgage payments? Im not talking going to the court house, and seeing if the foreclosure process is about to start. Im talking about finding out when they miss just their first payment 30 day late, or second payment.
Better yet if you had access to this type of list for your town, and you could use software to cross referance it with the local MLS to see if these same people that are late are trying to sell their house. I bet you could get some killer flips out of that, and get to them way before they enter foreclosure.
If you have access to these types of list or this type of software please respond, I would also be interested to know what the cost on something like this would run, seems like insider information that knowbody else would have…thats what makes the really good deals.
title companies have the ability to do searches for people that are late however dont think there is a system to cross with mls yet but that would be pretty sweet
Do you think Im wasting my time trying to find something like this? It seems like it would
be pretty sweet to me.
I think you will find this information is confidential. I would agree that if you can get the information it would be very valuable. You would be well ahead of the competition. I get a list of pre-foreclosures who I send direct mail to but these are 90+ day late owners.
Not sure title companies give such information. At least in Texas, title companies cannot give us any information.
I don’t see the value in cross referencing it with MLS, I think it is good as is. I know of a company that charges $0.35/lead with min order of 5000 leads.
I know a company that can provide you these leads at $0.45 per lead with a minimum of 1000 leads. Drop me a note and I can give you their website.
This is a scam. If someone is only 30 to 60 days late and not publicly filed as a notice of default by the mortgage lender then the information is CONFIDENTIAL. If they are just late 30-60 days (in California) it’s between them and the lender, not public knowledge.
These leads are either total garbage or illegal. Run.
Very correct, this is not public knowledge. This information is sold by the credit agencies to list brokers and under very specific guidelines. Evidently there are more than one list broker that sells them. That’s fine if you think it’s a SCAM, but I’d do a little research before you just thow it out as a SCAM.
here is the info required to send to the 30 60 90s
Rates are on the rise!
You have been pre-approved for $25,000 dollars to $400,000 loan. See below for terms and conditions of offer.*
We also offer Forbearance services, financial services and can help with your home! Call us today! Thank you and look forward to talking to you soon.
Please call – put phone # here -
ALL AAAAAAAA Capital Coporation are Equal Housing Lenders. © 2006
Lenders License Number:85235627202 State of Issuance: CA
You can choose to stop receiving “prescreened” offers of credit from this and other companies by calling toll free 1-800-567-8688. See PRESCREEN & OPT-OUT NOTICE BELOW for more information about prescreened offers.
*Terms and Conditions: You must be at least 18 years of age to be eligible for this offer. You must continue to meet the criteria used to select you for this offer. You must respond to this offer before the expiration date indicated on the front of this letter. If we receive your response after the expiration date, we may require you to follow our normal application procedures and will evaluate your application based on our current underwriting criteria. This offer is non-transferable and supersedes all prior offers. Our credit worthiness criteria include that your loan be secured by your residence as collateral; that the equity in your home meet our equity requirements; that you pay all applicable loan fees; and that your combined monthly debts and other credit obligations not exceed 50% of your gross verifiable monthly income. If you continue to meet the criteria used to select you for this offer and our creditworthiness criteria, you are pre-qualified for a loan of no less than $25,000 at a 14.75% maximum APR, which is calculated according to the simple interest method, for a term of between 180 and 300 months. For example, a loan amount of $25,000 with zero down payment at 14.75% APR repaid over a term of 15 years can result in 180 monthly payments of $13.82 per $1,000 borrowed. The actual amount of your loan, at or above $25,000, will be determined based on information obtained in processing your acceptance of this offer including, but not limited to, the credit bureau information, appraisal, verification of income, and equity in your home. You will be required to pay for an appraisal. Home equity loans are available in most areas. Some limitations apply. This offer is not valid if you move outside of our marketing area. This offer is void where prohibited by law. The amount you save on your monthly payments may vary.
sorry, it just sounded like a scam to me…I’ve never heard of getting leads after only one late payment. I would be interested though if it is true.
Scammmmm maybe… just the rules…
Which is why I believe in marketing to the five prospect groups exclussively…
That way no one is left behind…
I think marketing to them could be a bunch of hoops to jump through, and if you dont have a licence number forget it. What if you could get the list and you could tell who was behind then cross reference the list to see which ones of these people are behind.
There wouldnt be any legalities behind making offers on houses that you happened to have inside information on.
Im thinking this has legs but I could be wrong.