I’ve heard people getting leads from mortgage brokers, such as people who can’t refi and are forced to sell. My question is how do you compensate the mortgage brokers for these leads?
$500 per closed deal. Want a great place for leads? Go to your local title company and ask them for a list of everyone with an ARM product.
And make sure the mortgage was taken out exactly two years ago.
Yeah!! even 12 months to 18 months they are ready to do something.
Ever heard of a one-year teaser? The rate adjusts at 12 mos. You can also search security deeds at the court house if stored on computer.
I have heard that mortgage companies can’t “sell” their leads? While I appreciate Reoconsultant’s take no prisoners attitude, is my concern real? Should I be looking for the morally casual mortgage brokers?
Also, Connecticut is a non-title state, so I’ve been looking for list companies that have lists of arms. I’ve found a few that say they can get them, but I’ve seen no results yet.
Forgive me newbness but are you guys saying to search for people with adjustable rate mortgages becuase the rates are higher and they may not be able to make payments and are trying to get out of the mortgage?
Hey ctguy,
I highly recommend building your network around Process servers. They are on the front line serving people with the papers have them hand out your card and tell the people "This guy can help." It works great for me.
Robb
Thanks, Robb. Good idea!