Pre-foreclosure outreach means reaching homeowners who have fallen behind on their mortgage, after a notice of default but before the auction, and buying their property before they lose it, then profiting by reselling or renting it.
Log in to followPut money behind an operator on a pre-foreclosure in a state I hadn't worked before. Owner about six weeks from a trustee sale, payoff around 214k with 11k of arrears, agreed pric…
I manage about 60 single family doors. One of my owner clients stopped paying the mortgage on a rental I collect rent for, which I found out about when the notice of default hit t…
NOD recorded in a non-judicial state, auction 27 days out when the owner signed with me. Payoff came back at 187,400 including 14,200 of arrears and trustee fees. I agreed to 241k…
For anyone new: a notice of default is the document a lender or trustee records at the county when a borrower is far enough behind for foreclosure to start. It's public. That's ho…
I wanted income without a second job, so pre-foreclosure was the last thing I expected to end up doing. What changed my mind was realizing I only needed one. For anyone new, a not…
Small town, population under 4,000, three bed one bath at 1,180 square feet on 1.4 acres. Judicial state, so the notice had been filed 14 months before there was a sale date on th…
Finished this one 11 days ago and I want to write down what actually happened while I still remember the order of it. House: 1,320 square foot three bed on a slab, 1991, inner rin…
Twelve acres with a tired 1960s ranch on it, notice of default recorded, first mortgage payoff 214k. As-is the whole thing is maybe 235k in that market, so on as-is numbers it's a…