Preforeclosure Script

Hello, my name is (Insert your name). I'm a real estate investor and noticed your situation in the public records. I help people save their credit by buying their house.

Is now a good time to talk?

IF No:

ask them if there is a good time to call them back. Time/Day ____________________ If they are not interested in talking or get mad, thank them for their time and tell them to call you if their situation changes and you'd be happy to try and help them. Leave name and number, (Insert name and phone number here)

IF Yes:

Great, who am I speaking with?

______________________________________________

(Say their name). I don't know if I can, but if I can would you like me to see if I can help you save your credit by buying your house?

In order to see if I can help you, do you mind if I ask you a few questions?

1) If you have a foreclosure on your credit, will your credit get better or worse?

2) If you have a foreclosure on your credit, will everything that you buy on credit for the next 7 to 10 years be three times LESS expensive, or three time MORE expensive?

3) If you have a foreclosure on your credit, and you apply for a job, and your prospective employer pulls your credit; as all employers are doing now, will they hire you? Or someone with good credit?

4) I don't know if I can…but IF I can …would you like me to see if I can help?

Can you tell me a little bit about your current situation?

(Seller's name) What is the property address? _________________________________

Number of beds and baths? ________________ Does it need any repairs? __________

How much is the balance on the first mortgage? ___________________

Do you have a second mtg.? ______________What is the int. rate on that? ________

And the payments per month? ________ How long have you had the mortgage? ______

If I was to make you an all cash offer and closed right away subject to the BANK'S approval, what's the lowest price you could take?_________________

(Incredulous and slightly disappointed) Really? _________Is that the best you can do? __

(Seller's name) I am going to do a little bit of due diligence and give you a call back. What is the best number to reach you? _______________________________________

(If they are motivated, they will give you their home, work, email, cell, and pager numbers. The primary goal is to get them to work with you.)

Get them to write an authorization letter so you can talk to the bank. "I (name of seller), herby authorize (bank) to release any and all mortgage information regarding (loan #) to (insert your name)." Have them sign and date the authorization letter.

Date default filed? _______________________________

How many mortgage payments are you behind? __________________________________

Has any body else made you an offer? __________________

Can you tell me what would you like to accomplish? ________________________________________________________________________________________________________________________________________________

(Make arrangements to meet with them and view the property.)

I'm a rational, logical, intelligent person. I want to see things written down in black and white before I agree to anything. You are a rational, logical, intelligent person too…aren't you? You want to see things written down in black and white before you agree to anything too…don't you?

When would be a good time to meet? I have ____________ and _______________ available. Would one of those two times work for you?

Good luck! Remember this is about confidence and credibility.