Good point. My thinking was more along the lines of Hardship - medical situations, loss of pay, reduction of pay, divorce, or other situations resulting in financial distress and failure to pay mortgage.
You cannot swing a dead cat these days without hitting a couple of distressed homeowners. Question is what to do with them since most of them are over-levered and upside down due to the decline in prices.
My suggestion, work the REO departments, unless you have resources to cash out the short sales.
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Good point. My thinking was more along the lines of Hardship - medical situations, loss of pay, reduction of pay, divorce, or other situations resulting in financial distress and failure to pay mortgage.
that info is best obtained from the 3 CRAs.
You cannot swing a dead cat these days without hitting a couple of distressed homeowners. Question is what to do with them since most of them are over-levered and upside down due to the decline in prices.
My suggestion, work the REO departments, unless you have resources to cash out the short sales.
OMG thats a big question... In todays market I like direct mail and COI.