Niches That Bring you Riches Pre-Foreclosures

In my last article I talked about Pre-NOD.Today I am going to talk a bit about Pre-foreclosures. The Pre-foreclosure niche is the process leading up to the final day a property in pre-foreclosure is possessed by the bank. This is the time you will reach out to homeowners in order to find out if you can help them with their situation to avoid foreclosure You want to approach the homeowner heading toward foreclosure with a spirit of caring.Your job is to discover what they need and find out if you can help them avoid foreclosure. This is where the
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Avoid Foreclosure: Option 11 – MORTGAGE LOAN MODIFICATION


(Available on a very limited number of VA loans with lender and/or investor approval) (Called Recast for FHA)
Definition: A restructuring of loan that could result in a lower interest rate, extending the term of your loan, thereby lowering your monthly mortgage payments.

If you have incurred a long term financial hardship and can afford a new agreed upon payment, this might be an option for you. A loan modification is a permanent change to your mortgage. There are costs and fees associated with a modification that you will be responsible for. All property taxes … Read the rest

Avoid Foreclosure: Option 13 – PARTIAL CLAIM


(FHA mortgages only) (Some Freddie Mac Investor loans)

Definition: This is a loss mitigation option that allows a borrower, with help from a lender, to get an interest-free loan from HUD to bring their mortgage payments up to date

Partial Claim

You may qualify if:


  • Loan must be 92 days delinquent (4 full payments due and unpaid).
  • Mortgagor must have overcome the cause of default.
  • Owner-occupant committed to continuing occupancy as primary residence.
  • You are able to begin making full mortgage payments.



When your lender files a Partial Claim, the U.S. Department of Housing and Read the rest