New Pre-nod laws????

[Aaron Walker]

Hey guys, I am a new investor in Missouri that is trying to find some pre-foreclosures to deal with. I am real excited about the pre-nod lists but I found this posting below on my local club forum. It was supposedly posted by someone from yellowletters.com. Has anyone heard anything about this? Is it true? If so, how can we get around it? Thanks

"There have been some very significant recent law changes affecting our Pre-NOD lists. In actions on December 1, the Federal Trade Commission has made it clear this list can no longer be used without a firm offer to the homeowner. For our clients to use this list, they would have to file paperwork before they mail each letter, detailing their offer. The FTC will be auditing mailings, and failure to comply will result in sizeable fines to the investor.

For that reason, we will no longer have the Pre-NOD list available......blah blah blah plug for a different list they have."

www.yellowletter.com