The Bot Bin

Friday, July 10th, 2009

How to Market Ahead of Lis Pendens

Frequently I will get inquiries about how to market clients that are late on their note, but have not received an official Lis Pendens. Their essential concern is that the Lis Pendens lists that they are using for marketing are not closing advantageously for them. The reason those listings tend not to close advantageously is because once the borrowers information goes public they are stuffed with telephone calls and direct mail. The next largest matter is that many times once an Lis Pendens has been written out, the client might have already abandoned the house.

The pleasant news is that there is a way to contact the borrowers when they are only thirty, sixty or ninety days past on their note. Our operation has the ability to obtain listings of clients as they have missed a payment, rather than once an Notice of Default has been issued. By targeting borrowers in this situation they become ideal for short sale leads. At this period they are behind one or two payments and are at a serious decision making stage considering whether or not they are going to make an effort to keep their home. It is up to you to aid these borrowers to make that decision and show them the benefit of a Short Sale or Loan Modification.

This entry was posted on Friday, July 10th, 2009 at 1:52 pm and is filed under Entrepreneurs, Internet Finance, Marketing Hub. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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