Pre Notice of Default

[Lawson Ott]

looking to start mailing to pre-nods

looking for a quality source of time relative leads.
would be nice if it were low cost/free ;)

recommendations?

[Sean OToole]

@Lawson Ott - another reason I don't like these is that, at least for investors, being first to reach folks in trouble with their mortgage generally doesn't matter. A lot of people put too much energy in trying to get NOD's faster, and finding out pre-NOD. The reality is that people are pretty aware of how long foreclosure takes, and are anything but motivated at the point they first start missing payments. At that point they tend to 1) still be in denial, thinking they can fix it, 2) actually have a solid plan of how to fix it, or 3) know they have a year or two of free rent before the bank actually forecloses, at which point the bank will probably give them cash to move. That last one is a pretty high bar to cross in terms of giving them an offer that sounds better. Not saying it doesn't work ever, or at all, just that it's often easier to cut a deal closer to the end of the process when they know the gig is up and they've exhausted all their options.