A Clever Spell

Often times I will get inquiries about how to market borrowers that are past on their note, but have not incurred an formal NOD. The key issue is short sale leads tend to have a poor closing ratio. Most of the time insufficient conversion ratios are ascribed to the information becoming public at a particular period. In which event the market becomes loaded with calls, marketing and fliers. Another reason is that most of the time the borrower is so far along in the foreclosure process they are already half way out the door and have given up on saving their home or credit.

This is where our function comes in to relieve the topics observed above. Our company has the ability to get listings of borrowers as they have missed a payment, rather than once an Notice of Default has been released. When you contact a client at this stage, they are ideal prospects for a short sale. At this period they are behind one or two payments and are at a crucial decision making stage regarding whether or not they are going to make an effort to save their property. It is now time for you to make contact and educate the client about the prospective profits to enter into a short sale dealing.