Free Foreclosure Websites

[Account Closed]

Looking for free foreclosure websites.  I know of a couple of them but I believe there is a consolidated list of them.  Any info would be appreciated.  Thanks, Lorri

[Dev Horn]

RealtyTrac used to be the big dog in this field - http://www.realtytrac.com/

In 2007-2009 we marketed to foreclosures because there were so many of them and we could find some with equity.

But I often question new investors why they want to market to this group.  Many people with equity would just sell the house (before foreclosure) if they can't make the payments, so as not to lose that equity.  Those who are "in foreclosure" today are likely to have borrowed heavily against the house, failed to pay the payments so there thousands in in additional fines and late fees, paid too much for it so they're upside down, etc.  In other words, could be a lot of people who CANNOT sell their house at a steep discount without doing a SHORT SALE.  A short sale - if you're new - will require a knowledgeable real estate agent and perhaps an attorney, months of efforts, and the bank will expect it to be offered to others besides you.  In other words, short sales are no place to be for new investors.

New investors should concentrate on doing advertising direct to specific prospects that have a higher chance of being motivated and have a run-down property (absentees, senior citizens, etc.) **AND** have at least 50% equity.  Those are some of the groups we reach out to with our marketing.  I work with a bunch of experienced investors and almost none are marketing to foreclosures and the ones that are have innovative strategies to find them and the ability to close them.

I fear you'll get a foreclosure list, market to it, get some calls from people you can't help, and then you will have wasted that money & time.  Save your $$ and put them toward marketing to other targets WITH EQUITY.  Happy Investing!

"Never underestimate your ability to make someone else's life better." ~ Unknown