Foreclosures
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by

1031 Exchanges
presented by

Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago on . Most recent reply

Buying After Missed Payments But Before Foreclosure
Hi All,
I have done a couple of flips from vacant houses I found driving for dollars.
I saw a video on YouTube of an investor buying a property for $140k which the seller states has $120k owed and missed two payments. The investor claims the property to be market value at $185k.
My question would be, how do I go about finding sellers who have missed payments who are motivated but have not yet been foreclosed?
I am struggling with understanding what/how lis pendens or notice of defaults work and the steps of making deals that are not in auctions?
If anyone has insight or a direction for me to learn I'd be very grateful.
Thanks!
P.s. Michigan laws.
Most Popular Reply
Do a Google search "Pre-NOD" and you will find several sources for 30/60/90 late mortgage leads. The lists are fairly inexpensive and can customized your list criteria to zone in on any specific area (i.e. zip code). Good luck!