Anyone use Foreclosure.com ?

Question

Has anyone subscribed to Foreclosure.com?  I'm interested in hearing some feedback on this service.

The good, the bad, the ugly...

pfinder

N/A N/A · Answer

I think your best resource may be a local publication. 
try googling forclosure and *your area or town*
locally, we have a publication called the recorder. it costs something along the lines of $175/3 months.
it lists all of the forclosure sales happening, times and dates. but it is also where they publish public notices to defaulters.
as in "this is hereby notice that on such and such a date, your home will be siezed..."
this info is available on their free online version.
right now there is one that is going to forclose on the 17th of next month.
i don't know if the people are plannig on coming up with miracle money, but i do know they haven't yet listed it with a realtor.
I am a realtor, but not a vulture so i haven't approached them. and as for investing in it myself, i am all tapped out on my current project which was a trustee sale, cleaner upper that will have instant equity of about $200,000.
yippee!

Jim Watkins · Answer

They are known for POST foreclosure information. Otherwise known as REO (Real Estate Owned) bank properties.
They have already been foreclosed and now are owned by the lender, not the previous owner.

I think that service is worthless if you want PRE-Foreclosure information.

Jim Watkins
www.dfwmentor.com

N/A N/A · Answer

Thanks.

pfinder

N/A N/A · Answer

I have, but I find their info is dated.  I use a local service that gets the info fast.  For example they already had all the confirmed sales from the auction that took place yesterday.  I live in Texas, they may be more current in other parts of the country.  There were 2 letters I sent out based on their info only to find out those properties had gone to sale the month prior.  Foreclosure.com had them listed as "new".