Next Step in Preforeclosures

We are completely new at this, and we have obtained a Lis/Pendens list for our county and have created a short list of the properties we are interested in. What should we do next?

a. Phone the owner
b. mail and phone them
c. stop by for a quick chat
D. none of the above

What would be a good way to approach the owner of the property?

Any other advice?


In a fix

 E. All of the above 

I have noticed that Every person is a little different and like to be handled different some like letters while some like phone calls and other enjoy talking to you face to face please keep in mind though some people just don’t like investor’s. And are in denial and that is more then a river in Egypt!

Hope this helps

Correct me I am wrong, but just because an LP is filed with the county doesn’t mean that the foreclosure will still proceed. Can’t the owner pay up or work out arrangements w/lender to avoid the sale?

Also, I went to see a house the other day that was advertised in paper as a “Seller financing” property in FL. The guy that was running the show gave me a business card. I looked inside and did like what I saw in the home. When I went outside to see what the next steps were (newbie here), he was gone and I was told by his secy to send my credit report to him to prove that I could obtain financing and he would talk the transaction over w/me. 1. I don’t fax my credit report to ANYBODY. 2. I did a background check on him in my county’s public records and it turns out that his mortage company (as claimant) has an “Affidavit of Notice of Equitable Interest in Real Property” (NIP was the abbreviation) in this address and a few other homes. He also owns a mortgage company and title company. What are these NIP notices and how are they filed in the public records? In other words,what is he doing?

My assumptions and please comment if I am on the right track. He is an investor who contacted the owner after seeing an LP on the property. If so, the LP was from way back in 12/2001 and the only record after that is his 6/2005 NIP. Does this mean that the current occupants worked out the payments with the bank and the cancellation of LP was never recorded? Please post all possible scenarios.

Keep in mind that I have only checked public records and have not done any newspaper searches on the property so I don’t know if there was a sale scheduled for the next few weeks for this home. maybe this could have been the case.

Thanks so much…
“newbie but ramping up” Dave