The Lucky Cabin

Often times I will get questions about how to market clients that are late on their note, but have not received an official Lis Pendens. Their essential concern is that the NOD lists that they are using for marketing are not closing advantageously for them. Nearly all of the time bad conversion ratios are attributed to the data becoming public at a particular point in time. In which event the market becomes stuffed with calls, marketing and flyers. The next biggest issue is that many times once an Lis Pendens has been published, the borrower may have already abandoned the home.

This is where our function gets in to relieve the topics noted above. We pull this pre-foreclosure data from the credit bureaus because note lenders will report to the bureaus when a client misses their mortgage payment. By reaching borrowers in this position they become ideal for short sale leads. The clients have just neglected their second or third note payment and they need to make a decision soon if they want to be able to salvage their dwelling and credit rating. It is now time for you to make contact and educate the client about the possible benefits to enter into a short sale transaction.