Pre-Foreclosure listings are not available in the county until they are published in the newspaper.
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Scott Paton:
Talking about today’s market, Lou. We’ve got a couple of questions from TruthB3Told, and the first one his name is Carlton Perkins. He lives in Georgia, his wife, and see that there’s an opportunity with pre-foreclosures to obtain properties for our clients. So the question is, how do we obtain pre-foreclosure listings from the County?
Lou Brown:
Well, he don’t. Those things don’t come out in the counties hands until they’re actually published in the newspaper. Since he is from Georgia, I can talk to him on the level of what happens in Georgia. First of all, there’s a notification that goes to the person that lets them know they’re in default. And then secondly, there’s a publication. Now this publication has to happen four times and it has to happen in the County Oregon of legal notices. So each County chooses a publisher that now puts out those legal notices. So, find out who that is in your County and then, or the County that you want to invest in. And then you could subscribe to that, or you can get that online, but that’s the only official notice that goes out. The better place to get your leads is early on, where you want to get your leads from is there’s not really known out there in the world, but there are lists that are sold to mortgage brokers of people that are in default.
And so we’re able to access those lists and you see what happens is people in default are ones that end up being foreclosed on. And the hope the dream, the vision is that maybe they can get refinanced. Maybe they have enough equity in their home. And so those mortgage brokers go after those folks and we have access to those lists. So, we have a number of different relationships, that are specific to what we do and how we do it. We call them Wizzes and we’ve got Signed Wiz, Voice Wiz, Mail Wiz, Credit Wiz. Mortgage Wiz. And one of ours is Mail Home Wiz, where they’re able to obtain these lists and mail these lists for you and get those kind of leads. So, we can definitely help you with that as well.
