Foreclosure lists

Foreclosure List Update:

Most of the lists of foreclosure information are available for free from your county office where you’re searching.  There are many title insurance companies that can provide the information in an electronic format for their customers as well.  You will usually have to be a customer in order to get access through the title companies.

Update for agents and brokers:

Some of the asset management departments and asset management companies are no longer allowing their asset managers to assign listings.  Countrywide has had this policy for a long time already.  The reason behind it is the potential for an asset manager and a less-than-honest agent to be in cahoots for stripping a house of valuable items.  When the asset management company has a neutral employee assigning listings, it helps limit their risk.

For specific questions about foreclosures, foreclosures lists for your area, or industry news and trends, send a message to Jon Sterling at info@mangledmortgage.com

REO Asset Manager Lists For Sale

Consumers and agents BEWARE!

There are individuals and organizations out there selling lists of their asset manager contacts.  Exercise extreme caution when considering buying one of these lists.  Many times, they are nothing more than a collection of phone numbers to a bunch of banks across the country.  You can get the same information by visiting the websites of the banks themselves.

The lists are marketed to both consumers and real estate professionals.  Consumers can use the lists to contact lenders to identify properties to purchase.  Real estate professionals can use the lists to generate foreclosure listings.

The lists can cost hundreds or thousands of dollars.  There are real estate professionals who do lots of foreclosure business who will sell their lists of asset managers and their contact information, so it’s up to you whether or not it is worth the cost.  Some say yes, some say no.  If you are planning to buy a list, do some research and make sure the source either is selling or has sold foreclosures and used that list to generate business.  If you cannot verify, you probably want to keep searching.

I do not sell lists, but I can point you in the right direction if this is something that interests you.  Email info@mangledmortgage.com or simply post your questions below.  I have coached dozens of people through this process, so you can learn from our collective mistakes.

Yours in success,

Jon