Advice - Should I pay to join... - Posted by Ed K


#1

Posted by Bert G on February 22, 1999 at 11:08:51:

“”(mine had 968, and that is WAY more than I’ve ever found at the county recorders office) “”

Aparently people on the Northern Plains don’t default on their mortgages. They listed only 14 foreclosures in my entire state.

BG


#2

Advice - Should I pay to join… - Posted by Ed K

Posted by Ed K on February 21, 1999 at 16:49:14:

Advice - Should I pay to join a service to obtain REO dept contacts. How can I be sure it is for real? their website is foreclosureworld.com. Thanks


#3

Re: Advice - Should I pay to join… - Posted by MaryEllen

Posted by MaryEllen on February 22, 1999 at 03:42:46:

I do not know what state you live in so it is hard for me give you advice. In California we have Aciom/Dataquick, however, they do not give REO contacts. You can find the owner of the property at the courthouse. Just call lenders in your area and ask for their REO department. Some will tell you they do not have such an animal but keep trying. When you reach them get a list or ask them for verbal info and if they are listed. REO’s that are listed with R.E. agents can still be a bargain. The other alternative is dealing with a local R.E. Agent to get a list of REO’s in your area. Good luck.


#4

Re: Advice - Should I pay to join… - Posted by Jim IL

Posted by Jim IL on February 21, 1999 at 21:17:22:

Ed,
I tried to get to this site you listed, but the URL is bad. I tried a search engine and found “www.foreclosureworld.net”, is that it?
This site offers for $368.00 a list of REO’s in any county in the country, 24 hours a day (for midnight shoopers I guess).
It also allows “one free search” but the search only lists the number of homes in each county, and no specific info on the homes.(mine had 968, and that is WAY more than I’ve ever found at the county recorders office) Not even a town or street.
Frankly, I just cannot rationalize spending $368 to get a list I can obtain from the recorders office in my county, when I go there and research myself for 4 hours a week.
But, then again, if your time is limited, and you have the funds, go for it.
I’m not sure how current the list they offer would be, and the fact that they requested a credit card number over a non-secure server did not make me feel to good about them being legitimate.
So, IF you do this, please pass along to us here how it works out.
Thanks,
Jim


#5

? is…how many OTHERS are using this? - Posted by raelynn mitchell

Posted by raelynn mitchell on February 23, 1999 at 09:46:52:

because if you are looking for REOs, so is all of the competition.

This one sounds interesting, but in the past I have subscribed to several so-called REO lists. Interesting thing…by the time I got the info many many many times the property had already sold. Someone was the first one there, probably researching at the recorders office the same day as the guys putting together their lists. So if the list came out the next day, the guy who was at the recorders office researching has already contacted the owner if it was a good deal. And just because a property is owned by the bank doesn’t necessarily make it a good deal.

Joe Kaiser’s “Totally Dominate…” course teaches how YOU can be that first guy (or gal).