Pre Foreclosure List
Targeting short sale or loan litigation worthy homeowners is difficult. Pre foreclosure lists, late homeowners and upside down homeowners are some of the ways to hone in on your market. Pre foreclosure lists in particular combine the defaulting homeowner with a notice of default filing or notice of trustee filing imminent or already filed.
Popular pre foreclosure lists include:
- NOD/NOT filings (Daily)
- 90+ days late on mortgage
- 100%+ LTV, delinquent on home
For short sale experts, getting pre foreclosure lists for homeowners that have imminent filings means targeting those that are 90 – 180 days late and in some states only 60 days late on their mortgage payments. You can also consider NOD and NOT filings on a county by county and state by state basis to target delinquent homeowners. Search by loan balance, trade line history, and many more criteria.
Pre foreclosure lists that work typically produce a 1-4% response rate for mailing and in most cases the person is not in danger of losing their home right away. Your marketing message should resonate with the distressed homeowner and you should look further into how long they have been in the home and how much equity they have when building your pre foreclosure lists.
Do not give up after just one mailing. Typically if you have a series of mailings or the same mailing sent every week or month and purge the list monthly for responders, you will find one list will generate a lot of response over a few months of getting the letter or series of letters. You save money on data and you can purchase the printing upfront to save money on the larger print run. Postage is the only unavoidable but if you can get to as some clients have a cumulative 10% response rate on 5-10 mailings from the same list, you are on track!
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As with any business transaction, you need to choose your marketing partners wisely. At Black Book Data we have the expertise to manage the entire process for you, with complete transparency. If you’re serious about taking your marketing to a whole new level, contact us today for your free, personal consultation.
For other tips on marketing with pre foreclosure list lead prospects contact John Rooney, john@blackbookdata.com or call anytime, 888-818-3282, ext. 105
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