I admit only having limited experience with this strategy. Mainly because, in my experience, some of the Loss Mitigators at the banks can be a significant pain in the a*s. I have heard recently of a company started by a former Loss Mitigator that will partner with you on the deal for a split (only if they can negotiate a deal with the bank). You get the deed from the Home owner and this company negotiates the short sale with the bank(s). I am very interested in this and I’m trying to find out more about it. I will share any future info that I find.
Short sales are a very powerful strategy to master and can almost create a deal out of thin air. So if someone has created a method of improving our chances with the bank…more power to them.
The court house docs that F_T_S is referring to are called “Notices of Lis Pendens” and you will have to sift through them. Effectively what you are looking at is ALL notices of lawsuits, be it Suing for divorce, personal injury, wrongful death or “suing for foreclosure”. You will have to find the applicable cases and collect the relevant info. You can sign up for foreclosure “lists” on the internet but by their very nature they are dated by the time you receive them. In an arena as competitive as preforclosure you need to go to the source…days count.