Why Do Home Owners Go Through Foreclosure Instead Of Selling Home On Market?
hello all,
my question is why home owners would go through foreclosure instead of just putting there home on the market. here in nj, the pre-foreclosure/foreclosure process is pretty long. why do these home owners end up going through foreclosure instead of just putting their homes on the market where they can avoid bad credit and get more money from their property? the only answer i can think of is that these people are in denial and still believe they will make up the payments?
Fourman,
My point is that we can not think "oh this poor lady, I am only offering her 5k and if only she would FSBO she could make 30k. boy, I am really taking advantage of this poor lady". You are offering her a solution. She is not going to FSBO or something else that you would do to maximize your return. She does not think like you think. Your solution gets her out of her mess and is quick and easy. They can be desperate, not logical thinkers, and easy to influence. If she does not go for your solution, she might go for the solution that the sleaze bag waiting to knock on her door is offering that will get her in a real bind. You need to feel good about your solution and really try to sell it, even though your smart and logical mind sees other options that you would take. She is not you.
a lot about pride and ego too. A lot of respectable people, lose a job, have medical bill and are afriad to ask for help or look weak. I have seen that twice, and no other type.
One person I called, did not know that their home was going to a trustees sale. Initially that scared me a bit, since I thought that I may have received an incorrect lead from my list broker.
But after doing research on the document number, we found that was true.
Apparantly it seems this guys wife was keeping this information away from this poor man. So no county or investor letters got to him. I never found out why this lady was doing what she was doing..... I think there are some wierd people out there....
what an inspirarion this site has been!!!
I for one want to help as many people as i possibly can. This site keeps me charged and ready to go.
Keep up the good work all ! and happy investing.