These episodes are recorded as a live Question and Answer Mastermind with participation from agents and investors across the country. Thanks for tuning in, and don’t forget to subscribe for future episodes!
In this episode of the podcast the hosts and participants engage in a detailed discussion on a complex real estate case, involving probate and disputed property ownership. Colette shares her experience dealing with a property under contention after a probate process was closed in 2009. Various participants, including Tim, Bruce, and others, provide advice and share similar experiences. They also introduce a new product, ‘Late Mortgage Payments’, aimed at identifying homeowners who are behind on their mortgage payments but have not yet gone into foreclosure. The product aims to offer agents and investors opportunities to assist these homeowners before their credit is irreparably damaged. Additionally, there is discussion about the effectiveness of pre-foreclosure leads and the competitive advantage of reaching out to homeowners early. The session also touches upon resources available to agents, such as professional scripting, marketing materials, and third-party services to facilitate contacting these leads.
Key Takeaways
- Late Mortgage leads allow outreach before a homeowner reaches the public foreclosure stage.
- The 60-, 90-, and 120-day delinquency range can provide an important window for early intervention.
- Avoid assuming selling is the homeowner’s only solution.
- Build relationships with mortgage professionals who may be able to offer financing alternatives.
- Becoming a guide during financial distress can create trust even if the homeowner initially tries to keep the property.
- Early outreach generally means less competition than waiting until a Notice of Default becomes public.