How to find out which properties have gone into default

2 Replies

hey everyone,

after just a few weeks on BP (and serious time on the podcast) my knowledge has gone up 10x...which means i now understand 10x how much more there is to learn! :)

thx all of you who've helped give your time and advice. 

what i realize now is just how hot our market is here in asheville, which makes finding anything that even comes close to passing the 2% rule very difficult, or just about impossible unless i can find a truly motivated seller. 

i've noticed on zillow that country records will state when a home is in default. i'm sure there's a lag time there. is there a way to get this information faster? is it obtainable directly from the country recorders' office...and if so what would i do to get it?

pls forgive the noob question...i'm sure a million ppl have already thought of this but i'm not seeing this exact question here on the forums.  

Look up your states foreclosure laws online and find out. It is information you should know anyway if you intend to deal in foreclosures. In one state I did foreclosures the NOD was required to be published in a newspaper. In the other it was not, but both required it to be recorded. So check with the county and some helpful civil servant will help you find out how to located the notice of defaults, if they are actually working the 3 hours they dedicate to the county that day and you find them during that 3 hour period. Seems that way anyway in some counties I have used.

Try using Foreclosures.com and realtytrac.com. Both sites give you a week free trial use of their sites. Once you accept the trial, just enter the city and state where you want to find the pre foreclosures ( defaulted properties) and the lists comes up with all of the properties current info. They also have REO'S.

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