preforeclosure list

[Gene Michigan]

I have aquired a preforeclosure homes publication. The publication gives name of owner(s), Mortgage Co., the ($) amount and Interest % of the mortgage and the date the foreclosure sale is to take place. My question is, Are the owner(s) still in control of the property or is the mortgage Co. in control of it now? If the owners are still in control, what would be the best way to contact them about purchasing the home from them before the foreclosure sale?

[missmbb]

Until the foreclosure sale, the owner is still the one you have to deal with to buy the property.  Of course if it is a short sale, the bank will have to approve it, but the bank can't sell it to you becuase they don't own it yet.

[Mohegan]

where sis you find it ?  preforeclosure homes publication list ?

[veleno45]

There is no need to buy preforeclosure lists.  There are easier ways to go about getting houses without everyone subscribing and paying for the same list.  You will always have competition with more money, larger credit lines, better ratios etc.  You have to understand foreclosures enough to get these deals BEFORE everyone else does.  It is a beautiful thing when you know how to beat all the competion to the punch almost every time.

[Buckeyes]

Veleno,

What are some of the easier ways that you use, and is this something you do already or something you are preparing to do?

Thanks

[veleno45]

Hi Buckeyes, this is something I currently do, and have been doing.  In my market 25% of all homes sold are being bought by investors.  With that type of influx of investor money your competition is rough.  We made a better way, a smarter way.  I have had some of my people sit in on seminars and classes but they dont ever tell you the full story.  Beating the competion to the property and knowing how to close the deal is the easiest way to find the perfect flips and rentals.  So far this year I have 1 condo, 3 single families, 1 townhome, and one commercial office building.  And I spend maybe a few hours a week doing this.  I have a mortgage brokerage that takes most my time.

[Data]

will you give us little guys a shot at learning how you do these forclosures...please  

[msting22]

Hey Gene how did you go about getting that pre-forclosure list was it though a realtor, you county courthouse or off the internet?

[Gene Michigan]

the county I live in publishes a weekly paper (Legal News)you can buy at the book store.

[vbarnett]

Does anyone else have some ideas to quickly find pre-foreclosure lists- hopefully before some of the competititon?

[bigg kev]

I have aquired a preforeclosure homes publication. The publication gives name of owner(s), Mortgage Co., the ($) amount and Interest % of the mortgage and the date the foreclosure sale is to take place. My question is, Are the owner(s) still in control of the property or is the mortgage Co. in control of it now? If the owners are still in control, what would be the best way to contact them about purchasing the home from them before the foreclosure sale?

[Infowell]

"will you give us little guys a shot at learning how you do these forclosures...please"

Veleno45 may have given you enough information in their last post: "I spend maybe a few hours a week doing this.  I have a mortgage brokerage that takes most my time."

I mean think about it...if you "have a mortgage brokerage" who's gonna know before you that the borrower's defaulting!

[islander]

Hi guys, i've ben working on my first forclosure and i have found a web site that you have to check out buybankhomes.com it is a new sit from fidelity and it is free they are still updating this site but I think you should check it out

 

[yashica23]

I have seen buybankhomes.com.   Has anyone had any success using this website??

[trecey]

I just accessed the web site. www.buybankhomes.com  try that...