Coaching Corner from Christina

Prospecting for Pre-foreclosures

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Prospecting for Preforeclosures

“Prospecting for Pre-foreclosures”.

Join MAPS Coach Christina Griffin as she presents the basics of prospecting for pre-foreclosures. Christina Griffin is in the top 1% of all real estate agents in the United States, with an illustrious career in distressed properties that has spanned nearly two decades.

Forbearance
 4.3 million homeowners missed their mortgage payments (May 2020)
 The number of people who failed to pay their mortgage last month rose to its highest level since
2011.
 In May, 4.3 million homeowners missed their mortgage payments, up from 2 million at the end of
March, according to Black Knight, a mortgage data company. That brings the overall delinquency
rate for May to 8%.

But it is not likely everyone in forbearance will ultimately be able to pay back what they owe,
and banks and housing industry experts are keeping a close eye on the delinquency numbers to
ascertain how many people are falling behind, whether they are in forbearance or not.
 The report shows that serious delinquencies are increasing, up more than 50% over the past two
months, with 631,000 homeowners now 90 days or more past due.
 The states with the highest percentage of loans that aren’t current are Mississippi — with a
delinquency rate of 13%, Louisiana at 12%, followed by New York, New Jersey and Florida, all at
11%.
 The report also shows a total of 46,800 U.S. properties with foreclosure filings in March 2020, down
3 percent from the previous month and down 20 percent from March 2019 — the third consecutive
month with a year-over-year decrease in U.S. foreclosure activity.
“As foreclosure activity across the country continued to decline in March, contributing to a run of
quarterly declines, the number of filings remains just one-sixth of what it was following the Great
Recession a decade ago.

States with the highest foreclosure rates in March 2020 were Delaware (one in every 1,238 housing
units with a foreclosure filing); New Jersey (one in every 1,475 housing units); Illinois (one in every
1,558 housing units); Connecticut (one in every 1,931 housing units); and Florida (one in every
2,015 housing units).
 27,812 U.S. properties started the foreclosure process in March 2020, up 3 percent from the
previous month but down 14 percent from March 2019. March 2020 marked the 14th consecutive
month with a year-over-year decrease in foreclosure starts.
 Lenders completed the foreclosure process on 9,091 U.S. properties in March 2020, down 13
percent from the previous month and down 25 percent from March 2019.

Prospecting approaches
Pick up the phone
Write handwritten letter
Door Hanger
Post it notes – on the door
Pop By
Post cards
Long term nurture’s
Learn what to say and how to say it!
If you were offered the right price for your house would you be
willing to sell?

Super excited to be teaching this course https://mapscoaching.com/coaching-programs/working-with-foreclosures-short-sales/ .

Christina
the authorChristina
Hi. Here is Christina Griffin. I am from Tampa florida

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