Need Help With Pre-Forclosure
Okay, I found this NOD property, 72K is owed with all most 6K in arrears but I cant locate the owner because the house is vacated. I dont want to send a letter because I think I have less then a month before this house goes to auction so I need to act now. I do have the Lender's number and address however, so would it be a good idea to deal with them and not the owner? I would just be buying th house for what is owed on the loan, hopfuly, because comps in the area are about 115-125K. Thanks for any advice, it is much aperciated.
You cant deal with lender. They cant sell it only auction it. Talk to old neighbors see if they know where owner moved. If you cant fid then you will have to go to auction. Get a title search to see if anyother liens. If you cant see inside property you take a gamble how much work it needs. I got into one the other day outside looked great inside needed 15K to fix. If lender buys it back at auction then you can contact lender and try to buy if you dont buy it yourself at the auction
I would send the letter anyways, what do you have to loose? 2-3 days will go by wether you send it or not, so I would send it anyways. 37 cents is not a bad investment for a 50/50 shot. If they have their mail forwarded, they will get you letter. Try to use a regular #10 envelope or go to Staples, they sell all types of other envelopes there. I just started doing mailers and I bought some Greeting card envelopes along with the small invitation envelopes. If the owner is dodging any other type of mail, they will not dodge that, they will think that someone was inviting them somewhere, or sending them a greeting card of some sort. Try it out...
Hope that helps~
Also try finding the owner on verizons website. They will list all matching names in the state. Sometimes this works sometimes it doesn't
TBARBER
Thanks for the help, I'll send out a letter and see if that helps. I'll also work a little harder on finding the owner. My partner does live right across the street from the house. And get this, he said some one came and mowed the lawn the other day, but they were wearing a uniform so I assume it wasnt the actual owner.
Quote:
On 2003-10-23 21:33, Jimbezy wrote:
And get this, he said some one came and mowed the lawn the other day, but they were wearing a uniform so I assume it wasnt the actual owner.
That's kind of strange don't you think--they can afford a landscape service but can't afford the mortgage payment. Maybe the guy came buy in his own uniform after work.
don't just send a letter, send a LETTER!
Send it priority mail w/forwarding so that it finds it's way to the owners. Include a contract, and a photocopy of a check made payable to the owners for $500, $1000, or whatever. Tell them that you are very inetrested in their home and, if you can't buy it before the sale, you intend to bid on it at the Sheriff's Sale or whatever process they use in your state or county.