Earlier today The Mortgage Bankers Association (MBA) released foreclosure and default statistics from the fourth quarter of 2010. The MBA states the NORMAL percentage of seriously delinquent borrowers—those more than 90 days behind on their mortgages—are TYPICALLY just above 1 percent. In the fourth quarter of 2010, that figure was 8.57 percent.
The MBA still estimates the peak of foreclosures will occur in 2011 with over 5 million high-risk loans moving through the process. With so many homeowners approaching the brink of foreclosure, the time is now for homeowners and real estate agents to unite and take advantage of their limited rights and options available during pre-foreclosure.
SSAA launched an interactive pre-NOD map in January 2011 that gives real estate agents the opportunity to identify homeowners who are 30, 60, 90, or 120 days late on their mortgages BEFORE they are reported as public record.
When agents exercise their opportunity to contact these homeowners, they are able to take advantage of more short sale and conventional listings because they're reaching them before their competition ever knows they're in default. When agents wait to market to homeowners who are too far along in the foreclosure process, their opportunities are missed and the homeowners become a part of the latest foreclosure statistics.
We are getting the word out about the new map to real estate agents across the nation so that homeowners in default are reached early enough in the pre foreclosure process and properly represented before they run out of options. Take advantage of your opportunity to download pre-NODs in your area by visiting the new Heat Map. All leads are streamed live from the credit bureaus and show real-time lead counts in your zip code(s).
Claim your competitive advantage by being the first to reach these homeowners in your area. LEARN MORE!
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