Lis Pendens as a Lead Source

The last article outlined the Foreclosure Process in South Carolina, and one of the items briefly mentioned was the lender's collection attempts. Lenders can be rather persistant in their collection efforts. Those phone calls and letters sometimes border on harrassment, and that is where you come in.

Homeowners facing foreclosure want the calls to stop and their financial situation to improve. The problem is an internet search for foreclosure or bankruptcy help yields hundreds of thousands of results. With all of that information out there, a homeowner facing foreclosure can become confused, and a confused mind will shut down.

Foreclosure is a scary and confusing process for many homeowners, and those homeowners need professionals to help them find solutions. Whether you are a Real Estate Investor, Realtor, Bankruptcy Attorney or provide a Loan Modification Service, you offer a solution that can help a homeowner in financial trouble.

Most homeowners want to remain in their home, so if you have the tools and services to help keep a homeowner in their home, your expertise is invaluable to the homeowner. Although many homeowners want to remain in their home, some are simply overextended and need to save their credit and avoid foreclosure, so if you have the tools and services to buy or help a homeowner sell their home, your expertise is invaluable to the homeowner.

The combination of the lender’s borderline harassing phone calls and letters, the homeowner’s confusion and desire for a solution creates a situation where professionals with viable solutions are in high demand by homeowners.

Another reason Lis Pendens data lists are a good lead source is many banks are willing to negotiate the terms (amount and/or interest rate) of the loan. I switched from the term lenders to banks for a reason - not all lenders are banks but a vast majority of them are. Not all lenders are willing to negotiate to with professionals helping homeowners; however, since banks face significant pressure from regulators, non-performing assets are not only bothersome but troublesome as well.

Mortgages are assets to any lender, but when a bank's asset turns into a non-performing asset, the banks ability to lend money is negatively impacted, and that in turn impacts a bank's profit. Therefore, it is to the bank's advantage to negotiate the terms of the loan in order to turn a non-performing asset from a liability back into an asset or approve a short sale to remove the non-performing asset from the financial statement.

As you can see, homeowners facing foreclosure need your service and many lenders are willing to negotiate the terms of a non-performing asset (loan) to increase profit. This creates an opportunity for you, as a professional, to help a homeowner find a solution, help a Lender turn a non-performing asset back into a performing asset and you can profit for your services.

With the hundreds of thousands of search results, there is simply too much information out there for a homeowner to sift through to quickly find your service. The question is how do you get the benefits of your service and solution in front of homeowners when they need your service and solution?

The answer is Lis Pendens filings. The next article will discuss how to find Lis Pendens filings in South Carolina.

Interested in finding and marketing to your local Lis Pendens? Sign up at www.scdistressedhomes.com/pricing.html to receive a free trial of our Lis Pendens Data Lists and start providing your service to homeowners facing foreclosure.

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Aaron