Pre NOD Marketing
Often times I will get inquiries about how to market borrowers that are past on their mortgage, but have not incurred an official Lis Pendens. Their essential interest is that the Notice of Default lists that they are using for marketing are not converting well for them. Nearly all of the time terrible closing ratios are attributed to the information becoming public at a certain point. In which case the market becomes loaded with telephone calls, direct mail and circulars. The next biggest issue is that often once an Lis Pendens has been announced, the client might have already vacated the house.
This is where our function comes in to ease the issues observed above. Our company has the ability to obtain listings of clients as they have missed a payment, instead of after an NOD has been released. By reaching borrowers in this situation they become perfect for short sale leads. At this stage they are down one or two payments and are at a crucial decision making spot considering whether or not they are going to make an effort to spare their dwelling. It is now time for you to make contact and educate the borrower about the future benefits to enter into a short sale dealing.