This is my first "Pre-foreclosure Letter" to a homeowner. I need some feedback. e.g Should I refer to my client as an investor or a homebuyer? And was I right about the "boosting your credit" line?


Here it is:

[insert homeowner name]
[insert homeowner address]
[insert homeowner city, state, zip code]

[insert today’s date]


Dear [insert homeowner name],

My name is Darnell Jackson and I represent an investor that is interested in purchasing your home before it goes into foreclosure. Over 115,000 people entered some stage of the foreclosure process just last month, so believe me when I say ‘you’re not alone in this’. As a matter of fact, I was in the same position around this time last year. So I know exactly what you’re going through, and I would like to help by making an offer on my client’s behalf that would payoff your current mortgage (boosting your credit score) and put some money in your pockets at the same time.

I am not a real estate agent and you wouldn’t be responsible for paying any fees, commissions or closing costs. The investor pays everyone, including you. This is my job and my passion. I help good people out of difficult situations by advising them of all of their options and helping them make the best out of an unfortunate state of affairs.

As you may already know, having a foreclosure on your credit history can cause a lot of problems not only now, but also well into the future. I think that we can work together to avoid that. My associates and I will also work to help you find a new home, again at no cost to you.

If you feel like you’re out of options, don’t give up until you know exactly what options you have. There may be some that you haven’t explored. Whatever you do, don’t sit around and do nothing. That’s what I did when I thought I was out of options, and I regret it everyday.

If you decide you want to take action, please feel free to call me at anytime. My door is always open, and I look forward to us working together to get you through this difficult time quickly and easily.

Sincerely,



Darnell Jackson
PH: (504) 274-7880
FX: (832) 243-6913

Darnell -

Overall, I think your letter is good. As a Realtor that focuses on people in mortgage default, I would however caution you to mention the non-agent bit, "your not responsible for paying any fees, etc.". The reason is this...depending on the homeowners' situation (is it a short sale), selling their home may not cost them out of pocket...during a short sale, the banks pick up the cost. I just say this bit incase you are marketing someone who also has contacted a Realtor....you don't want to look like you're being a slick investor.

Again, this is just my opinion, and I see lots of investor letters regularly....and yes it always chaps me when they say that!

Best of luck! Let me know how the letter works out...I'm always interested to see what works out there for people in this type of situation...so many don't do anything and remain in denial till the Sherriff shows up.

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Kelly Cope
Morgan Cope & Associates
RE/MAX DFW Associates

I wouldn't put the "I was in the same position around this time last year..." That would turn me off as either a marketing ploy or the fact that I wouldn't consider you professional enough to deal with. IOW, if this happened to you only a year ago, how successful have you been doing what you're doing now? How long have you been doing this?

I suppose you could share that you've been in their position in the past but not just a year ago. Put more effort in tying that together with your passion to help others going through the same thing (you've done pretty well with it but it could be even more cohesive).

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Southwest Chicago Suburbs Real Estate is an affordable area with close access to downtown Chicago. Money Magazine says that Orland Park real estate is one of the best places to live in the U.S. Next door you can find Tinley Park homes for sale and get Orland Park amenities at a more affordable price.

I think in the letter you should sort of explain how exactly your going to help the person out. If i was the one recieving the letter i wouldn't want to call you just to ask you how you could help me. I would like to know from the letter then call you wanting to start the process or asking a few extra questions.

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Real Estate Talk

Darnell,

I have been working the Foreclosure Business for 10 years. Think about who you potential clients are. In my opinion, I didn't get past your 2nd sentence. To many words. It needs to be a simple letter/postcard with bullet points that emphasize your service & how the client could benefit from hiring you. and how the Foreclosure could be damaging to your credit etc....The best thing to do is design a few different letters/postcards & track the progress...

Best regards,

Chris Benson
AZ - Realtor

Hey Darnell,

I'd suggest taking any reference to you buying their home out of the initial letter. The las thing that these people want is an investor offering to buy their house. I get much better responces offering assistance with the problem without directly coming out and telling them that I buy houses until we meet face to face.

Good luck!

Tim

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