Pre-Foreclosure Letter

I NEED A SAMPLE AS WELL.

I just came from investigating a list of pre-foreclosure properties. "Investigating", because I don't know if the list I have is valid. I pulled it off the internet and said "what the hell!", so I'm giving it a shot.

Can someone answer our call.

I have a "sample" letter, which I had my RE agent look over and she thot it was great!!! But, the list of "pre-foreclosures" you received from the internet may not be current. One of the better ways to retrieve "current" pre-foreclosures would be through your title company... As in my case, I have an RE agent send me a list of nearly 100 properties a week.... Maybe if you connect with a good RE agent, they would do the same for you??? Shalom!

Would you be willing to share it? If so, you can post it hear - or I can PM you my email address.

That would be great!!

Here is my sample of a preforeclosure letter: Feel free to rip.
1.) My name is _______________, and if you are nearing default, I can have immediate access to funds that can help save your credit and save you from potential tax penalties.
I understand how a person can suffer a temporary financial set-back due to the loss of a job, illness, or other unforeseen circumstances. Not having the ability to make mortgage payments on your house and the prospect of losing your home is a traumatic experience. The greatest heartbreak comes from having to move out from the home you and your family love. I can give you a real option.
As you probably know, a foreclosure on your credit report will destroy your credit for many years. I can help you save your credit and your reputation as well.
You are probably not aware, but there are also new tax laws in effect that can haunt you even after you are no longer in your home. I can save you from potential IRS repercussions.
Because I have funds available, I can usually act in 48 hours or less! You can call me anytime day or night at _____________.
Warmest Regards,
Your Name Here

2.)IF YOUR FACING FORECLOSURE OR KNOW SOMEONE WHO IS, YOU HAVE OPTIONS
This means that if, for whatever reason, you cannot bring your loan payment current before the scheduled foreclosure sale date, your house will be sold at a public auction sale to the highest bidder, and you will be evicted by the new owner.
If your house is sold this way, you will get absolutely nothing from the sale. The bank holding your mortgage only cares about getting back the money that you owe them. They do not care about what you get.
You could put your house on the market and try to sell it yourself. Or, you could take your chances and list it with a Real Estate Broker/Agent. However, right now it takes about 6 months or more to sell a home.
I specialize in helping people who are in foreclosure. I can help you too! All that you have to do is to pick up the telephone right now and call me at ####### or Email ######@**** to set up an appointment so that I can make you an offer to buy your house today and stop the foreclosure and keep it off your credit report. .
I will handle all of the details of the sale and deal with the title company processing all of the paperwork that is necessary to transfer the property's title.
I look forward to hearing from you very soon and to working with you to stop your lender from foreclosing on your home.
Sincerely,
Your Name Here

I think I will incorporate both letters into one. The first one sounds far more empathetic - and i think that's what I'll need to "connect" with an owner. The second one sounds more DIRECT. - a little harsh even.

I have a way with words, so I'll post my final draft when I'm done.

THANKS A LOT!!

thanks jason.... and i wish u the best of luck in ur investing. do u happen to have nething more current that may have changed that u know about or is a simple I'm an investor script going to work in today's market? Im in NC and the preforeclosure rates are super high.
thanks again....
Kevin

PLEASE CAN SOME ONE SEND A COPY OF THIS LETTER, TO NEGOCIATE WHIT THE BANK.

This is exactly what I was looking for! Thanks Jason. Just another example of how the DG.com family comes through with the right info at the right time. God Bless!

Deshone

Thanks Jason! This letter is excellent..

It seems kinda' wordy to me, but I will adapt it for my uses. Thanks for sharing. I'll post some later, probably this weekend, too. I think the more concise the letter the better. The most important thing is to generate a lead and/or direct them to a Web site. If they get tired of reading and discard the letter, than the letter doesn't serve it's purpose.

you are exactly right. It is more important to generate that possible lead. But new investors have to remember that the reader of the letter is probably going through denial of his situation, so don't be surprised if the results don't happen immediately. But when they do, be ready to perform.

I found this old post...but I have a related question. I just got a list of pre-foreclosures (on a one-week free trial), but before I start sending out letters I have a question. Is there any way to find out if the owners are upside down on the mortgage?

I live in an area that has MANY foreclosures and almost everyone is upside down on the mortgage. That's why a lot of people are just walking away. I don't want to send out 50 postcards if only one on the list actually has equity in the property.

Most of these paid sites usually will show who has equity etc.
If your using the free trial, it should also show if they have equity.

Keep in mind on the mailers, that studies show it takes atleast 5-7 touches/mailers to one property, to get a high success rate.

If a lot of properties are upside down, Find the big short sale players in your area & they would love to get leads from you.
Also, If you start bringing them leads, they will send you the NOD list for free.
You have to Network with your local investors though & build relationships.
That's my 2 cents

Hey Jason after I come up with a Preforeclosure letter how do I obtain money to pay a person for the home. I have a co-worker who is going on her second month not paying her mortgage because it was raised to high for her to pay. Now she waiting to move in an apartment and just going to let the bank come get the house.

Hi Jason an thanks Jay so very much an everyone with enterest in this subject are all true winners an what a joy to to be part of such a wonder full DGFamily an thanks so much for all you that are sharing this is truely a ride an experience that only one can enjoy who are very serious about being successful at this. Love all your experience an it helps all of us grow the givers an the recievers, truely a real win win for us all, thanks with all my heart an soul, Jim ( proverbs 24:6 which saids;for by skilled direction you will carry on your war ( peaceful one here)and in the multitude of conselors an there is salvation ( winners).Have an awesome day all!!!!!!!!!!

@Jus myles, Sounds like you have a lead that could make you money.
If you don't know how to move on that lead, I always recommend getting more involved with Investors in your area & network with them & at the same time keep educating yourself while taking action.

1. If she has equity, you could lock up the deal w/ little to no money & wholesale it.
2. If she has no equity & needs a short sale, I would contact some short sale investors in your area who are doing a lot of deals, so you know it will get done & atleast get a $1k referral fee for passing the lead to them.

Where do you live? I might be interested

I live in Beaumont, Texas; the house is in the next city over about 15 minutes from me and is about 1800sq ft on a corner lot.

Could someone please forward me a copy of Dean's Pre-foreclosure letter. I have found several properties I'd like to mail it to. Thanks!

I love the DG family everyone here is so helpful.
Thanks Jason