When a Lis Pendens is filed is a sherrif sale date set on the same day?Also lets say your six months behind then the Lender files a Lis Pendens whats the time frame to a sherrif sale ?
In NJ, the timeframe can vary county to county due to the sheer numbers of foreclosure lawsuits filed... from 200 or so in Hunterdon, to 2,000 in Essex...
on average, I'd say about one year from the lis pendens to Sheriff's Sale... again, depending upon the roadblocks thrown up by the Homeowner.
I once had a Client who successfully dodged Sheriff's Sale for 11 (eleven) years.... That man knew how to play the system.
so should i send out letters to people who recieved a lis pendens 3 4 or even 6 months ago?Also i am new to the pre foreclosure bus and plan to hit it hard with a lot of letters to mail www.out.In my county(Gloucester) there are 200 to 300 lis pendens a month according to my clounty clerks www.website.Thanks James...
Some states sell properties within 90-120 days from the first notice of default or Lis Pendens but in some states it can take a year or more.
Things that can slow up the process is:
Bankruptcy filed
Work out's Attorney delays
Proper notice was not given
The terms of sale were unconscionable
The sale was conducted fraudulently
That justice was not otherwise done
probably closer to 100 per month in your area... and yes, the Homeowner will either have resolved their problem by then... or realize that their options and alternatives are limited and be receptive to less than conventional alternatives.
You will find that many are able to resolve their financial dilemma the first or even the second time, but most never learn how to manage finances so they get into trouble yet again.
I just closed a deal today from a letter that was sent 2 years ago and the property owner called me.
It's just a numbers game, if you play the numbers long enough you can come out a winner.
Look at it this way, if you market your self you let others know what you do, if you do not market your self no one will know what you do.
Lets use you numbers say 300 a month and use my cost per letter of .52 each and you spend $156 a month in sending letter and you only do 3 deals a year making say just 5k each. You spend $1,872 to make $15,000. Looks like a good return on your investment!
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In NJ, the timeframe can vary county to county due to the sheer numbers of foreclosure lawsuits filed... from 200 or so in Hunterdon, to 2,000 in Essex...
on average, I'd say about one year from the lis pendens to Sheriff's Sale... again, depending upon the roadblocks thrown up by the Homeowner.
I once had a Client who successfully dodged Sheriff's Sale for 11 (eleven) years.... That man knew how to play the system.
so should i send out letters to people who recieved a lis pendens 3 4 or even 6 months ago?Also i am new to the pre foreclosure bus and plan to hit it hard with a lot of letters to mail www.out.In my county(Gloucester) there are 200 to 300 lis pendens a month according to my clounty clerks www.website.Thanks James...
why dose the www. show up in my reply?
Some states sell properties within 90-120 days from the first notice of default or Lis Pendens but in some states it can take a year or more.
Things that can slow up the process is:
Bankruptcy filed
Work out's
Attorney delays
Proper notice was not given
The terms of sale were unconscionable
The sale was conducted fraudulently
That justice was not otherwise done
This other post may be of help as well
http://www.thecreativeinvestor.com/ViewTopic25260-18-0.html
[addsig]
probably closer to 100 per month in your area... and yes, the Homeowner will either have resolved their problem by then... or realize that their options and alternatives are limited and be receptive to less than conventional alternatives.
You will find that many are able to resolve their financial dilemma the first or even the second time, but most never learn how to manage finances so they get into trouble yet again.
I just closed a deal today from a letter that was sent 2 years ago and the property owner called me.
It's just a numbers game, if you play the numbers long enough you can come out a winner.
Look at it this way, if you market your self you let others know what you do, if you do not market your self no one will know what you do.
Lets use you numbers say 300 a month and use my cost per letter of .52 each and you spend $156 a month in sending letter and you only do 3 deals a year making say just 5k each. You spend $1,872 to make $15,000. Looks like a good return on your investment!
[addsig]