When Do You Have The Most Luck With Foreclosures?!?
My question really is - when I go to the courthouse, what foreclosure notices are the best to pursue? 1 month ago - 2 months ago - 3+ ago, etc?
What is typically the best notices to go after?? Notice of Defaults, Foreclosure notices? Notice of sales? etc?
Any help would be much appreciated!!
Thank you!
[addsig]
I have found that going after new Notices of Default doesn't work. Here is California the foreclosure process takes a little less than four months from the initial filing of the Notice of Default (NOD) and auction (Trustee Sale). What I do is typically go after Notices of default that are about 2 monthes old and also the Notices of Trustee sale which is filed atbout 21 day before the auction.
I don't know what the timeline for foreclosure is in your state, but you should try to contact owners about halfway or more into the foreclosure process. I have found that owners typically reach a point of panic closer to the foreclosure sale. You should experiment in your area contacting owners at different times in the process to find out what works best in your area. Finally, don't simplay contact the owner once, keep sending them letters, knocking ont their door every few weeks. In this way they will get to know you and if you are lucky build a rapport with them. Hopefully you will be the one that they remember when they finally face up to their predicament and need a quick solution. Good luck.