Hey guys! Do any of you have an "How to Avoid Foreclosure" package to give to people when door knocking people in arrears? I'm looking for a package that explains their options before the property goes to auction so that we can provide value to potential customers that might end up selling us their home later on equity split. Please post your package below or provide link where it can be downloaded on PDF. Thanks!
@Jon Knight I've thought about giving potential foreclosure clients the FHA Save Your Home brochure along with a letter or brochure from my company explaining what we do and offering to buy the property if they can't save it another way. But I haven't tried this approach yet. Just an idea I was recently thinking about.
this strikes me a little funny should you not do your own work for your own company. is it normal to just expect others to send you all this information LOL.. I don't know.. seems weird to me.. that just because BP is a place to share ideas that sharing your actual written presentation materials that one may have taken years to perfect and they would just give it to you in pdf form for you to just go and use.. I don't know I guess I am old school... like to earn my way there.
@Jeff Filali Jeff there are serious laws on the west coast CA included that one must follow when working with people in foreclosure.. its not like many other states were its still highly un regulated.. like in Oregon you cannot solicit someone in foreclosure at all.. and to work with them you need to be a licensed foreclosure person.. IE mortgage broker RE broker attorney. these laws all changed for us back in 07 so we don't do this any more.. but when I did and knowing how thin the market is the last thing I would do is teach my competition how to do it and give up my hard earned secrets.. LOL
Federal rules require the lender to same the same "Package" before the start of each foreclosure, at about the 45th day of delinquency and just prior to the completion.
I would pay close attention to Jay's post as he is correct about the west coast. Granted...I don't think anyone is going to consider Oklahoma as part of the west coast but, i'd be cautious if you are approaching distressed borrowers with the hopes of saving them. Emotions and money rarely mix well together.
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