The Info Fleamarket

Frequently I will get questions about how to market clients that are late on their mortgage, but have not incurred an official Lis Pendens. The key matter is Lis Pendens listings tend to have a poor conversion rate. Nearly all of the time bad closing rates are ascribed to the information becoming public at a certain point. In which case the market becomes loaded with telephone calls, direct mail and fliers. The second biggest matter is that many times once an NOD has been announced, the client may have already vacated the home.

This is where our service gets in to facilitate the issues noted above. We obtain this pre-foreclosure list from the credit bureaus because note lenders will report to the agencies when a client misses their note payment. By targeting borrowers in this situation they are perfect for short sale leads. The clients have just neglected their second or third deed installment and they need to make a decision before long if they need to be able to keep their dwelling and credit rating. It is now time for you to make contact and educate the borrower about the future benefits to enter into a short sale transaction.