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Re: How to find pre-forclosure prospects

Posted by Ward-CA- on December 22, 2001 at 6:16 PM

In Reply to: Finding pre-forclosures posted by renee on December 22, 2001 at 1:35 PM

Renee, in most states the initiation of a foreclosure is indicated by the recording, in the county recorder?s office, an official notice of the onset of foreclosure. For example, here in CA the party conducting the foreclosure, the trustee, records a Notice of Default (NOD).

To become aware of the beginning of a foreclosure here you would probably subscribe to a local foreclosure notice service that would provide you with a daily or weekly notice of the newly recorded NOD?s. The monthly subscription cost would be in the area of approximately $75 to $100 dollars and you would have your choice of getting the notices by mail or via the subscription service?s private, computerized bulletin board.

To locate such a service in your area you could make inquiries in the county recorder?s office, or look in the classified ad section of your local legal newspaper, or check with the sales manager of your local title company or ask at your local real estate investment club.

If the area where you live is a prominent site you might even inquire here at this discussion board.


Hope this helps.


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