Foreclosure Magazine - Is it lagit - Posted by darin ureche


#1

Posted by Meg on December 29, 1998 at 23:46:55:

Thanks! This is great motivational information. Do you know if this applies to Cook county, Il? What county do you live in?

Thanks,

Meg


#2

Foreclosure Magazine - Is it lagit - Posted by darin ureche

Posted by darin ureche on December 17, 1998 at 22:59:11:

I have seen the add running for foreclosure magazine on TV for 3 payments of 19.95. Is this a scam or for real. And can I just call the banks and ask for a list of REO’s.


#3

I did the math! - Posted by Meg

Posted by Meg on December 28, 1998 at 23:30:09:

3 payments of $19.95 for a 3 month subscribtion (fine print). That would be $19.95 per magazine that would probably have dated information.


#4

Re: Foreclosure Magazine - Is it lagit - Posted by Tom Brown

Posted by Tom Brown on December 24, 1998 at 13:52:35:

It seems that those commercials run 20 times a day where I live. At best, you are paying 19.95 a month for information that you can get for free from lenders.

It would be more to your advantage to get to know the bankers and get the list from them. If you bought the mag, you are going to have to get to know the bankers anyway to do any deals.


#5

Re: Foreclosure Magazine - Is it lagit - Posted by Jim IL.

Posted by Jim IL. on December 18, 1998 at 17:48:01:

I am VERY new to REI, but have decided to focus on REO’s and PRe-Foreclosures. I have found that in my county the sheriff Provides a weekly list of the homes in foreclosure, including the “sale date”, and the “redemption date”. For more specific info, I simply take the list to my “county Circuit Clerks office” and ask to see the files for the case numbers I’m interested in. I can then see the particulars for each property. I am now in the process of sending letters to the home owners offering to “help them avoid the sheriff’s sale” by purchasing the proerty from them.
I also have attempted to call banks and other lenders for info on REO’s, with no luck, The only way I have been able to get an REO list form anyone, is to befriend a bank employee, and then they got thelist for me.
I know this is not easy, and will be a pain in the but, but my area banks seem REALLY hush hush about there REO’s.
I know in the long run it will pay off though.
I also have jotted down the proerty addresses from the “legal annoincements” in the classified area of the local paper, and after the sale will call the LEnder and tell them specifically that I’m interested in the property located at 123 anystreet, anytown, IL. zip code.
I hope this produces better results.
We shall see…
If anyone knows a good way to REO lists from lenders, let us know. I just cannot see paying for this info, when it is FREE public information. the sixty bucks is better spent elsewhere.
thanks,
Jim


#6

Re: Foreclosure Magazine - Is it legit - Posted by Berwyn

Posted by Berwyn on December 18, 1998 at 11:04:43:

Listen closely to that ad. The 3 payments of $19.95 is for a three month subscription. Twently bucks a month for a magazine from an infomercial kinda tweeks my twinkie meter. I’m going to take a peek at their website just for the heck of it, should be good for a chuckle. I think its foreclosuremagazine.com


#7

Re: Foreclosure Magazine - Is it lagit - Posted by Rob

Posted by Rob on December 18, 1998 at 01:43:34:

I have been to seminars and read books about foreclosures. If you want to know about foreclosures,
I suggest you go to your local library and check out a book on foreclosures. (I am not sure where you live that your main library has a big selection. In San Francisco, I was surprise what was available.)

Take your time. There is no rush. The property will still be there.


#8

How did you get the Sheriff’s list? - Posted by Meg

Posted by Meg on December 28, 1998 at 23:34:30:

Is it published? Posted for all to see at the sheriff’s office? Given out on request?

I’d love to know!

Thanks,

Meg


#9

You CAN get an REO list from a bank… - Posted by raelynn mitchell

Posted by raelynn mitchell on December 22, 1998 at 12:01:58:

but you have to GO there, live and in person, to get it.

My husband had been getting lists every once in awhile from Home Savings (recently bought out). We met and talked with a realtor who wanted to impress us with his knowledge of real estate. When we mentioned properties owned by the bank, his comment was “You can’t just get the lists from the banks. They only give them to Realtors, and especially at Home Savings! They won’t even talk to the Realtors sometimes.”

We had a good laugh and quickly left.

And on the way out, my husband couldn’t resist: “That’s funny you should say that, sir. I just got the Home Savings list last Friday. And they gave me the number to call that rings right to the decision-maker’s desk.”

So don’t give up. But DO GO THERE, not call.


#10

Re: How did you get the Sheriff’s list? - Posted by Jim IL

Posted by Jim IL on December 29, 1998 at 24:25:39:

Meg, and others who want to know,
I have a friend who is an investor, and he used to buy nothing but foreclosures, or I should say, pre-foreclosures.
He told me to go to the sheriff’s office Civil division, and request a copy of the pending sheriffs sales list. So, I went and they gave it to me for free. The list only contains the case number, address and date of sale, and redemption, but the rest of the needed info is easily obtained.
All I do is go to the Circuit Court Clerks office and fill out a “file request form” and give them my DL number. They then fetch all the files, and I’m allowed to look thru them and write down any info I want from them. I can also purchase photo copies of any and all info in the files, but that is a waste, since I can write it all down for free.
The Sheriff’s office receptionist also told me when the list comes out every week, and advised me to come every Monday to get a new list.
so, now every Monday at 9 am, I go there, and then head to the Clerks office for file viewing.
I haven’t bought any yet…but it will happen soon.
Hope this helps.
It may be different in your area. In mine this is how it works, but a neighboring county charges a “copy fee”, which is minimal. I also have found that when you go to the neighboring county often enough, they’ll sometimes give me the list free, when I’m REALLY nice. :slight_smile: