Just thought I’d mention that a foreclosure is going to be part of the public record. The fact that a homeowner keeps it “secret” is going to be irrelevant once the notice of default is recorded, or some other public filing takes place.
You can discover these filings at the courthouse, or perhaps through a local service which provides foreclosure information in your area.
Chances are that the reason this house is now a HUD house is that there was little equity in the property, such that it didn’t attract investors prior to the sale, or bidders at the sale.
FUMBLE, FUMBLE, Someone dropped the ball! (Me) - Posted by Jim LaVerdi
Posted by Jim LaVerdi on January 27, 2000 at 18:34:15:
I came home today and was told by my fiancees’ daughter that there was a house for sale just two doors away. I took a look outside and looked for a sign in a front yard and didn’t see one. She said the sign is in the window. I went over and saw the house, and it was “For Sale” and stated it was a HUD owned house!. Where was I at? These people, just a few weeks ago were having a yard sale!. I drove right by without ever concidering an existing problem that these owners were facing (Carlton said this would happen). These people, were no doubt, facing a forclosure situation and never told anyone, and I guess no one ever asked! If I would have just taken a minute to look at a few items at that yard sale and casually let the owners know what I do and how I can help solve the problems of homeowners in trouble, who knows…That could have been my first deal right in my own back yard! I say “Lesson Learned” From now on yard sales are a stop for me even if for just a few minutes. I think it will be time well spent and a possible great deal in hand. I guess all forclosure victims do not advertise their misfortunes to the public and rarely seek outside help unless it’s presented to them. We need to let people know what we do!! We need to present ourselves as Problem Solvers!.
Glad to share this story as a missed opportunity to educate… My next story will be of Success to motivate.
Re: FUMBLE, FUMBLE, Someone dropped the ball! (Me) - Posted by jack z.
Posted by jack z. on January 27, 2000 at 18:50:28:
Jim,
That’s really an important post. You’re right, I guess you should have thought of that. But, like you, I definitely wouldn’t have. I read your post slapping my forehead, because I see poster ads for yard and garage sales every weekend, AND I NEVER CHECK THEM OUT. Not any more. I think I can smell the “subject to” deal already.