Archive for June, 2011
It’s always good to hear back from satisfied clients that have converted our early list of distressed homeowners into motivated sellers that list their home.
One agent printed out a two-page CDPE flyer and inserted it in an envelope and sent the mail piece to 100 homeowners on our pre foreclosure list. She simply attached a paper clip with her business card. The results were more signs in the ground.
To view the marketing piece that she sent out, download the pdf at:
What’s so great about this mail piece is there is no overt solicitation. The beauty of it, she’s not selling her services, merely providing a valuable resource that educates troubled homeowners on the options at their disposal. What should the homeowner do next, if they find this two-pager informative? Her business card is attached with a paper clip, not the most aggressive close, and that’s the point. People do not want to be sold, they want to be empowered with information that will improve their lives, and that’s exactly what this mail piece did.
To learn how many distressed homeowners are in your area, request a free area analysis at www.preforeclosuredata.net/countrequest.htm.
Short Sale Buyers – How To Find Deals
If you are a short sale buyer, there is no better climate for short sale buyers to find sweet deals, yet the competition is fierce. There is a way for short sale buyers to eliminate the bulk of the competition and identify the most promising short sale opportunities before the vast majority of short sale buyers know that a property is in distress.
At preforeclosuredata.net, we help short sale buyers pinpoint homeowners that are 30, 60, 90 or 120+ days past due on their mortgage payment. These struggling homeowners are eager for solutions and hope, and adept investors that can empathize with their situation will undoubtedly be successful.
If you are a short sale buyer, there are many sources to obtain pre foreclosure data, but almost invariably, the common thread with these sources is the data is public record information that is available to the masses. As a result, homeowners facing foreclosure are inundated with solicitations from REALTORS, investors, credit repair firms, bankruptcy attorneys and other parties that are saturating the distressed homeowner with foreclosure avoidance help.
Short sale buyers can smash through the clutter by using a credit bureau list of homeowners that have been reported by their lender as being delinquent on their mortgage payment. This “soft” credit data is not in the public domain and therefore, you can be the first – and oftentimes the only one – to offer to short sale the house and help the homeowner to get from underneath their homes and move on to build better memories.
For expert consultation, fast counts, and custom quotes, short sale buyers can contact a data specialist at 866-490-3459, or request a free area analysis at www.preforeclosuredata.net/countrequest.htm.
Orange County foreclosures can be obtained through a plethora of sources. If you are a real estate investor or REALTOR searching for Orange County foreclosures, however, there is fierce competition because the vast majority of Orange County foreclosure records are public record information that everyone else can obtain.
You can get a huge head start on your competition by reaching out to distressed homeowners before the Notice of Default is served, the official document which signal’s the lender’s intent to foreclose on the property.
Using our pre screened credit bureau database, you can find homeowners that are 30, 60, 90 or 120 days late on their mortgage payment and offer to buy or list their house. This data is not yet public record, so you can slash over 90% of your competition by getting in front of struggling homeowners at the first sign of a hardship situation and offer to buy/short sale the home.
Which area are looking to purchase Orange County foreclosures in? Give us a city, zip code, or radius around a zip code, and we can provide a free area analysis. Call us at 866-490-3459, or request a free Orange County Pre Foreclosure analysis at www.preforeclosuredata.net.
NED List Disadvantages
While you can obtain a NED List through courthouse compiled data once the Notice of Election of Demand has been served to the defaulting homeowner, it is more profitable to market to distressed homeowners earlier, before their hardship reaches the NED List.
As partners of the three credit bureaus, we can laser in on homeowners 30, 60 or 90 days late, once the lender reports the homeowner as being delinquent. This is under the radar, obtained through a “soft” credit inquiry, which means you can eliminate 90+% of your competition that works the same stale, aggregated NED list that everyone else has access to.
Which areas do you cover? We can filter the Pre NED list by counties, cities, zip codes, or radius around a zip code. You can refine the search further by how late the borrower is, loan balance, percentage of equity, and myriad other mortgage and credit filters that put your real estate services in front of upside down, struggling homeowners at the first sign of hardship.
To build a pre NED list that is tailored to your real estate business, call 866-490-3459 or for more information, visit www.preforeclosuredata.net. From Fort Collins to Pueblo, we provide early, accurate and exclusive pre foreclosure data on homeowners that need the services of a real estate professional.
If these distressed homeowners get a postcard or a letter, a phone call or a door knock from someone that empathizes with their situation and walk them through this difficult period in their lives, they will be receptive to your message of hope and solutions. More than providing a pre NED list, our savvy marketing consultants will suggest ways to get through to these distressed homeowners and provide marketing scripts and samples that have worked extremely well for other agents.
Our Pre NED List captures the contact information of distressed Coloradians that are 30, 60 or 90 days late on their mortgage payment. Armed with a Pre NED list, you can be the first to reach out to distressed homeowners and get them to list their home with you.
Our Pre NED marketing list is obtained through a “soft” credit inquiry when the lender reports a delinquent mortgage payment to the credit bureaus. This is insider information pulled prior to the homeowner’s hardship reaching the public domain.
Once the Notice of Election and Demand has been served, it is public record information available to anyone that seeks it. As a result, the homeowner is saturated with offers from REALTORS, investors, credit repair firms, and the masses of other people that market their services to these struggling homeowners.
Our early, accurate and exclusive Pre NED list eliminates your competition and increases your return on investment. For fast counts, custom quotes and expert consultation, call a data specialist at 866-490-3459 or visit www.preforeclosuredata.net.
Florida Pre Foreclosure records can be mined through courthouse records after the Lis Pendens has been filed, but the disadvantage to a Lis Pendens list is everyone else has access to this information.
A better way to find Florida pre foreclosure opportunities is through utilizing our tri-bureau prescreened credit data platform which identifies Floridians that are 30, 60 or 90 days late on their mortgage payment. These Florida pre foreclosure records are not yet public records because it is obtained within days of a missed mortgage payment, “flagged” when the lender reports a delinquent payment to one of the three leading credit reporting agencies.
In addition to the contact information of the financially troubled borrower, our Florida pre foreclosure leads contained detailed credit and mortgage information, including loan amount, FICO score, #of mortgage trades, how far behind the homeowner is, and other detailed attributes.
If you want to be the first to advise distressed Floridians on their options, call us at 607-727-0620 or visit www.preforeclosuredata.net, where you can get a quick count of struggling homeowners in your area.
Trying to find Pre Foreclosure opportunities? Using credit bureau data is bar none the best way to find pre foreclosure deals because while most lists are obtained after the lender commences the Notice of Default (NOD) or Lis Pendens (Latin for “suit pending”), credit bureau data is not yet public information. This means less competition and more time to work with the distressed homeowner and their lender, translating to a higher return on investment.
Find pre foreclosure opportunities based on:
- County, cities, zip codes, or radius around a zip code.
- How far behind the homeowner is, be it 30, 60, 90 or 120+ days late.
- The estimated percentage of equity in their home (they are all pretty much upside down in today’s market.
- The number of mortgage liens – whenever possible, we cap it at 1st mortgage so you don’t have to negotiate with multiple lenders.
- Aggregate mortgage balance range, for example, loans north of $200K, under $150K, loans $100-400K, etc.
There are other attributes we can use to find pre foreclosure opportunities – call us at 866-490-3459 to build a pre foreclosure list that is tailored to your needs, or you can request a free area analysis at www.preforeclosuredata.net.
I risk playing semantics with this post, but I think that the difference is like apples and oranges, when comparing our company to a leads company.
Day in and day out, when talking with agents answering questions about our pre foreclosure data, invariably the term “leads” comes up, though I never mention the word “leads”. I empower agents with good information, not “leads”. It’s understandable that the term “leads” is found somewhere in our conversations, because it has been ingrained into the vernacular of real estate agents, in no small part because there are a zillion leads providers trying to sell them leads, oftentimes dubious ones.
In my opinion, there is a fundamental problem with lead sources and it is this: A leads company does what you as a real estate sales professional should do on your own, and they charge an exorbitant fee.
As providers of early, accurate and exclusive pre foreclosure data, we are not a “leads” provider. We are information providers. All we do is provide insider information on distressed homeowners before the lender commences the paperwork to begin to foreclose on the property.
I like the analogy of the Home Depot and their Trademarked slogan, “You can do it. We can help.” Like the Home Depot, we give you the tools to build the house – or in this case, list the house. Candidly, some of our clients love us and are getting quite a lot of business out of our lists. Other clients hate us because they are not using the tools. In defining ourselves, we are an information company, not a leads company.
In contrast, when I think of a”leads” company, I think of a company that does 90% of the work for you. A leads company might:
- Drive the eyeballs to a particular website
- Capture the contact information of the home buyer or seller
- Make contact with the homeowner to verify information, gather more details and perhaps qualify the homeowner.
Besides cost, the biggest negative feedback I’ve received about the quality of these leads sources is in the qualification phase. There is always an inherent conflict between the leads provider (or at least a sales rep of the leads provider), who determines which buyer/seller is “qualified”, and the agent that is paying for a so-called qualified lead. On the scale of qualified vs. unqualified, the weight has the potential to shift towards the favor of the leads provider for the obvious monetary gain. Better for you to qualify the potential home seller and guide them along through the process until they are motivated to list their home with you, than a sales person of a leads company that knows relatively little about your real estate business.
By outsourcing so many functions to leads providers, there is a steep price to pay, perhaps 30, 40+ times more than our information which you as the real estate expert can convert into actual leads by being more involved in the process of qualifying and nurturing homeowners in pre foreclosure.
Unlike the vast majority of pre foreclosure databases, our credit bureau data is not yet public knowledge, which means you have a distinct, early advantage from the gate.
This is good information, if you know what to do with it. To bounce some ideas around on how to convert a list of distressed homeowners into motivated sellers that want to list their home with you, call a pre foreclosure data specialist at 866-490-3459.
Now that you have signs in the ground, who do you approach with your listings? If you need to unload your REO or short sale inventory, consider reaching out to people that are in a prime position to purchase a home – renters that have a high credit score.
In 2005, FICO score wasn’t much of a consideration. You needed little more than a job and a Social Security card to get a loan in the days of easy credit. Today, mortgage lenders are putting a lot more emphasis on FICO score.
To get a conventional mortgage loan, the aspiring homeowner needs a FICO score 620 or higher, but many lenders set the bar north of 640. 720+ will command the best mortgage rates.
Unlike other list providers that provide “modeled” data, we provide actual credit scores obtained through a “soft” credit inquiry. > Read more about what a soft credit inquiry is.
If you would like to target renters with high credit, call a data specialist at 866-490-3459. We’ll go to the drawing board and build a count based on your area of coverage.
Finding Mortgage Trigger Leads
Our mortgage trigger leads are obtained through the credit reporting agencies when a consumer applies for a loan. As part of the application, the consumer’s credit will be checked, initiating a flag on the applicant’s credit report. These mortgage trigger leads are pulled within 24 hours of when the credit inquiry was pulled from the mortgage institution. Our mortgage trigger leads are generated through a “hard” credit inquiry when the consumer directly applies for a loan and therefor, you have a highly captive and motivated audience that has a demonstrated want and need for your services.
Our mortgage trigger leads can be filtered by myriad attributes, including FICO score, equity, loan amount, loan seasoning, revolving debt, loan type and more. By precisely targeting mortgage trigger leads by these filters, you ensure that the homeowner survives the underwriting process.
Please note that credit bureau data is sensitive information and our mortgage trigger leads are subject to compliance requirements. For more information, expert consultation and fast counts, contact a mortgage trigger leads consultant at 866-490-3459.