Posted by Robert (NM) on June 18, 1999 at 23:48:16:
I have found out that the best time to approach foreclosures is checking with the County courthouse( or wherever the notices are kept in your state) In NM a Lis Pendens is filed and a30 day redemtion begins. I take info on only accts that have been paid down for at least 7 years, get there address and go knock on their door. If you call, you are just like all the other creditors that have been harrassing them for the last few months. I fyou have them face to face, then you can get into the door by saying," Hi, Mrs Jones, I understand ABC mort. co. is attempting to foreclose on your home, I can stop that process. Are you interrested?" It is a sticky situation sometimes, but it avoids auctions. If they say no, you still have a chance to buy it at auction if you desire.
Anyway, hope this helps.