I’m a newbie investor, so sorry for the newbie question. I’m tring to find properties that were just listed for notice of defaults and I think I found my county’s online records. I used the grantor/grantee document search to find all notice defaults that were recorded on 10-13-2006 becuase that’s the most recent date they allow me. I then get a list of names. This is where my questions come in ??? :
If I see a name that is listed as:PABELLO ROBIN JOHZEN BEGG
Does this mean two different people on the title? Pabello, Robin and Johnzen, Begg
But if this is in the name section: MORTGAGE ELEC REGISTR SYSTEMS INC BFC
What does that mean? It says that this name is the GRANTOR.
Also, If I am correct and these are the owners with a notice of default, how do I go about finding their address? I’m in orange county, ca.
If someone wouldn’t mind helping me out, I would greatly appreciate it, thank you!
first, you should probably use fictitious names. i just think that’s appropriate.
the grantor is the lender. the grantee is the borrower.
that Mortgage Elec"tronic" Registor Systems - not exactly sure what that is. this could be the company that lists defaults automatically for your county or for that specific lender…perhaps?
usually, if you’re in public records, you can type in names and search properties that way. i think. i’m not entirely familiar. i’ve been to the public access rooms by me and wow, that comp system is not user-friendly. the more you go and if you can actually “bump” into other people who are nice enough to help you out, the more you’ll get familiar with this.
just know that the pre-foreclosure market is super competitive.
what other ways do you think you could find these types of properties? have you driven any neighborhoods? knock on some doors, send out some “To the Property Owner of…” letters.
out of the 25 letters that i sent out locally about two months ago - i got one response. the owner called me drunk and needed to sell her house fast. it was a great opportunity. unfortunately, for me, and fortunate for her, her mother saved her from selling the house for about 60% below market…seriously. but 1/25 is pretty good i thought. then i realized how the market is going here locally and our company really decided to focus on other areas and some long distance projects.