All Forum Posts by: Account Closed

Wow, these are very helpful responses. Thanks to all of you. I am moving forward with my research and learning about the foreclosure process. I find it really interesting. It seems to me the way to find deals in this area is to do the difficult things other investors are not willing to do ... like knocking on doors. In college I did door-to-door sales for two summers and learned a lot about persistence, dealing with rejection, and working with people.

Thanks again for the help. I appreciate your generosity.

Thanks for expressing interest, Benjamin. I am hoping my question will clarify the role that the foreclosure trustee/attorney plays in the foreclosure process. They are rather mysterious figures to me at this point.

Additionally, if the homeowner is not forthcoming about their situation, how are we to discover the reality of their situation?

Foreclosures are new to me, so I am hoping to get some insight form more experienced investors:

I have located a property with favorable numbers that is listed for foreclosure auction in about 10 days.  I met with the owner today in an attempt to explore possibilities of helping him out. He didn't have much to say other than "I'm fine  ... I've got money now." He was very nervous and I feel that he might be in denial about his situation.

I don't want to spend time on this if he has actually worked things out with the bank, but I think this could be a good opportunity. I am familiar with the area, and the house is in good condition from what I can see. It should sell fairly quickly with minimal repairs. If I can get it at the right price, it is a no-brainer.

So my question is this: Is it appropriate to contact the foreclosure attorney to understand the real situation? Will they share useful information? Or do I just have to wait until the auction day to see if it actually goes up for sale?

I'm sorry if this is a basic question, but I'm learning as I go!