OfflineHello DG family. I have a few questions about preforeclosures, hopefully you guys can help... in the event a person allowed me to put their home under contract and I planned to assign it to another investor obviously before the foreclosure date would it be best to pay their past due balance to buy me some more time? Does anyone know a way to find preforeclosures months before the foreclosure date? Also, is there a contingency I would put in the assignment contract if I could not assign the contract before the foreclosure date or at least pay the past due balance before the date? If I was unable to do so is there a way to back out softly with minimal damage to my reputation? I know I asked a lot but all help is greatly appreciated.
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yadabnns
Finding pre-foreclosures is a little hard if you are just going down to your county recordes office. You can get great info but it takes a lot of time. I have found a great way to help me with this proccess. I found a Title company that sends me their new defaults every day. It gives me their name, property address, default amount, and etc. I would find a good title officer to help you with this as well so you never have to buy down a foreclosure. You will see when the foreclosure has started so just pick the newest one. This will give you plenty of time to finish a good deal. Their are always great deals coming around the the next corner. Good Luck!
Justin McQ
Thank you, Justin- great post and sorry for the delayed response. I will begin work on that as soon as possible. Now I am a newbie with no connection to a good title company so do you think I will be charged a good fee you for that info?