Further Education (Property Preservation) - REO Property Preservation Forum

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post #1 of 3 (permalink) Old 06-22-2010, 07:55 AM
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Further Education (Property Preservation)

My seminary professors drilled into my hard head the importance of asking questions and for now 1 answer produces two more additional questions. Having recently entered Prop. Pres. Industry, I am genuinely intrigued not only with the contracting work involved but with the processing of foreclosures in general. Can anyone suggest one or preferrably more resources that would offer helpful insights, explanations, information regarding the start to finish process of foreclosures? This would be greatly appreciated by one newbie of the business. Thanks in advance, Coleman

For example when technically does the "foreclosure" process begin and with whom? What specifically transpires on paper or computer systems between the banks (owners of remaining note) and what must precede the legal "beginning" in order to start the process? What might the bank do with the "file" (foreclosure) and why might it take longer or shorter to get it to the next step? What is the next step? Etc...????????? I am interested in finding the most detailed resource, so referrences would be greatly appreciated. Providing general answers will only provoke more questions. Is there even a resource like this out there? Or should I call my editor??? Kidding.
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post #2 of 3 (permalink) Old 06-22-2010, 08:45 PM
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The answers to all your questions can be found here:


Like Contractor Talk, it's free to join
post #3 of 3 (permalink) Old 06-23-2010, 10:44 PM
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Go pay your lawyer to educate you on the legal aspects of the foreclosure business. When you do this and pay for the advise you will find that most of the "information" that you will find on the internet or on the forums are totally incorrect. Each State is different and have different regulations. For a few $1000 you will learn a ton and then put that lawyer (if the lawtub gave you good advise) on retainer for the future help you will need.

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