More foreclosures Questions - Posted by Joseph Madera

Posted by Jim on November 06, 2000 at 15:31:47:

Foreclosures are often looked upon by lenders as something worse than a bankruptcy, in that it goes against everything they represent in the mortgage world. So, yes, please avoid it at all costs.

As both a lender and a broker, I can offer you some advice, provided I have the outstsnding balannces on the homes in question, as well as the reasonable market value of each, occupancy of each, if any are currently behind in their payments, and rents vs. mortgage payments, taxes, etc. and your timeframe for moving. Thanks!


Jim Flood, President
Mortgage Matters

More foreclosures Questions - Posted by Joseph Madera

Posted by Joseph Madera on November 05, 2000 at 14:30:45:

I’ve gotten some good advice on how to deal with foreclosures. Here are some more questions.Since my last email I was told to send letters to prospects that are certain to be at the subject house.Basically I was told to explain our svcs. in a personalized way.My question is how can I make sure that my letters arrive in the hands of people and not abandoned houses’ mailboxes?Also how can I get tel# to those homeowners whose # are not listed?I mean besides the basic calling up 411 info route.I’ve heard about cross reference directory or something.What is that?How can I get to homeowners whose house is vacant? I’ve tried the tax assessor’s office but the ones I’ve tried have the same mailing address as the vacant house.Are their other methods of finding these people? Lastly what is the website for bidding on HUD house?
Thanx Joe

You’re probably looking for someone like me. - Posted by DJ

Posted by DJ on November 06, 2000 at 12:30:50:

I’m on the other end of this question. How do I keep from going into foreclosure? I own 3 properties, excluding my home. I’m sick of being a landlord. I just want to move to another state, get a real job and start over. If I let them go to foreclosure, what exactly takes place.

Re: More foreclosures Questions - Posted by Eric Fl

Posted by Eric Fl on November 06, 2000 at 07:05:42:

HUD address…

Re: More foreclosures Questions - Posted by Michael

Posted by Michael on November 05, 2000 at 22:47:15:

Your local library will have the cross reference directory, they are reference material and can’t be checked out, though. Here we have 2 different cross reference directories, one of them includes, place of employment. If the houses are vacant, have you tried snooping around for clues, people usually leave things behind, I’ve found resumes, expired driver’s licences, car titles, credit card statements, and old adress books, AHH, friends and family know where they are.

Good Hunting

Re: More foreclosures Questions - Posted by Gordon MacLean

Posted by Gordon MacLean on November 05, 2000 at 15:14:12:


Finding property owners that are in foreclosure can
be a little tricky sometimes. We often use these
techniques in order, from first to last(cheapest to

  1. Obviously, go to the property and determine
    if its vacant or not. Usually, if you ring the
    doorbell and you dont hear anything, that means
    the power is off. Go around to the meter and see
    if its moving. If its not, your probably at a
    vacant house.

  2. Go to the nieghbors. Tell them you are a real
    estate investor and ask them if anyone is living
    at the house in question. If not, then ask where
    the people went and how long ago they left. I have
    been given new phone numbers or address this way.
    At best, try to find out what town and state the
    people moved to.

  3. Drop them a letter, to the property address. Be
    sure to write “Fowarding Address Requested” on
    your empty envelope. In a few days, you should
    get it back. Maybe with the new address.

  4. Go back to the courthouse and look through the
    foreclosure case file. Try to find out where the
    poeple were served the Lis Pendens at. This is
    often thier new address.

  5. If its a great deal, meaning lots of equity, you
    may want to actually spend some money to find them.
    We have a P.I. on retainer just for this reason.
    A simple SSN search, followed by a skip trace will
    show lots of stuff. Mainly, where they have turned
    on utilities at. Maybe even thier phone number.
    We have found that getting unlisted phone numbers
    to be quite hard, no matter who you are. Anyhow,
    It usually runs about $60 bucks for the service
    and can almost always point you in the right

Hope some of these things help you out. The cross
reference directory is a listing of phone numbers
in sequential order, like a phone book, only backwards.
I think you can get them from your Local Library. It
only comes out once a year and is not really good
for finding people that recently moved.

Happy Hunting!!!


Re: You’re probably looking for someone like me. - Posted by Jim IL

Posted by Jim IL on November 06, 2000 at 14:41:45:

Where are you located?
More info on your situation is needed to give you specific advice.
As for foreclosure, try to avoid it as best you can.
Basically, if you let the homes goto foreclosure, your credit will be shot.
Buying a home in the future will not be impossible, but more difficult.
Getting a conventional loan will certainly be a big task.

Let us know more details and we can offer you some possible solutions if there are any.

Take care and good luck,
Jim IL

Foreclosure letter disaster - Posted by Joseph Madera

Posted by Joseph Madera on November 05, 2000 at 15:56:31:

Thank you for the advice. Will do. Could you or someone else answer the following question: The following letter is the one that I would mail out to owners in foreclosures. I would send about 30 a week for about 1 month with no response at all not even a phone call. What is wrong with this letter:


According to Public Records you are in Foreclosure proceedings. We are here to help you retain homeownership and avoid Court House Sale of your property.



Contact us to further explain to you our services and give you an evaluation of your situation.


TEL 305 978-8955

FAX 305 643-4923

P O BOX 440845
MIAMI, FL 33144-0845