Pre foreclosures listing

10 Replies

Originally posted by @Jonathan Hernandez :

Has anyone tried there monthly subscription for the pre foreclosures. Is there other websites that contain current info to foreclosures before they get auction???????

Yes. Not in Washington state, but in Wake county NC. The service  provides details on all pre-foreclosures, and is a collection of all trustee sales current and pending. If trustee sales are predominant in your county, find out who the trustee firms are then go to their web site(s) and you will probably get sale details. The other option is to go to the courthouse and get the same data....

Oh, welcome to BP!

ePreforeclosures.com or Upsetbids.com (they are the same site). They have all preforeclosures, Upcoming sales and upset bids for all the properties that go to the wake county foreclosure auctions.

Originally posted by @Dan Gabrielli :

ePreforeclosures.com or Upsetbids.com (they are the same site). They have all preforeclosures, Upcoming sales and upset bids for all the properties that go to the wake county foreclosure auctions.

ePreforeclosures.com, I looked at that site, it seems to have some broken links. I would be concerned about investing in their product.  I might be wrong, it might be a bad internet day.

Years ago I would go to the court house (before computers and the internet came into my life) to look at the foreclosures filings. They were written in hand in a big book at the court house.

I would than drive to every property, find the deeded owner and inform them that a foreclosure has been filed. I would approach the mortgagor (owner) and let them know as a private and public service I am informing them that there is a problem.

They appreciated the advance notice and information. I was able to give them a warning, and was in a position to negotiate a purchase or refer them to someone who may be able to help them.

I would explain their rights and what they could do to delay a foreclosure auction sale.

They could:

  • File a counter suit if you feel you have been wronged, that the bank did not credit payments on time. Delay
  • Ask for a review of the API that was calculated. Delay
  • Ask for a full accounting of charges and a complete summary of how they arrived at those charges. Delay
  • Find and read local foreclosures laws
  • Look for mistakes made by the mortgage broker, lender or title company
  • Check the spelling of all owners names and description of the property, are there mistakes? Delay
  • Make sure the API was correct
  • Ask for mediation
  • Ask for financial counseling
  • Ask for reinstatement and add the late charges to the back of the mortgage

This was years ago. Many of these owners appreciated the advanced notice and were able to solve their problems. Some of them did business with me.

Always check the local foreclosure laws before approaching this business.

The Universal Law of Reciprocity always works. Give help to others and it will be returned to you sometime soon, when you lease expected.

Charles

Originally posted by @Charles Parrish:
Originally posted by @Dan Gabrielli:

ePreforeclosures.com or Upsetbids.com (they are the same site). They have all preforeclosures, Upcoming sales and upset bids for all the properties that go to the wake county foreclosure auctions.

ePreforeclosures.com, I looked at that site, it seems to have some broken links. I would be concerned about investing in their product.  I might be wrong, it might be a bad internet day.

An FYI. Full disclosure here. I am a former customer of Dan's and was a long time subscriber to ePreforeclosures.com. The only reason I am not now is that we are at the top of the market cycle and my company is not buying SFR rentals, therefore not subscribing to data services or retaining legal services for acquisitions. We are letting the hedge funds and players with more financial power rule the market without us getting in the way;)

Regarding our subscription, we paid many thousands of dollars over the years and it was worth the money we paid. Over the several years of our subscription, I do not recall a single broken link in the data records. I guess the question for Charles is are you a subscriber, and seeing broken links in the records? Or broken links on the public pages?

Moderators: I have no affiliation with Dan or Dan's site. I know who he is because we'd talk when we saw each other at the SP room at the courthouse.

Charles

I am the owner/site manager of ePreforeclosures.com.  I apologize for the any link problems you came across! Thanks for letting me know! The broken links have now been taken care of.  I am a one man operation and live here in Raleigh. I personally developed and have been maintaining the site for almost 15 yrs now. So although the website may be a little old school in its appearance, I can assure you the content,  links and easy of use are as current and accurate as can possibly be expected.  We even post the date and time of each update at the top of the webpage for each type of update. We update the upcoming sales page every 2 hours of every business day and update the upset bids every (Mon,Wed, Fri), which are the days the trustees do their auctions .  The Preforeclosure notices are done once a week due to the fact that only a hand full come out each day and the information isn't nearly a time sensitive as upset bids and the upcoming sales information. Please let me know if I can help in any way.

I am not sure this is the right place to ask this question or not but if anybody can explain it please do. If there is an HOA foreclosure on a property and somebody bought the lien, what would they have to do next in order to take ownership of the property?

Thanks

Tim,

First, once you pay the trustee its yours! Problem is: Is there someone living there? they will need to be evicted or you can rented to them, that depends on you. More importantly, you hopefully checked what other liens are on the home because you WILL need to pay those superior liens off in order to get clear ownership of the home.... ie first mortgage, second mortgage etc. Most HOA liens happen because the homeowner has no equity, so many times paying whats owed on the home will cost you more than the property is worth, which makes most HOA foreclosures a waste of time. I run ePreforeclosures.com, I see this all the time.