How to find pre-foreclosure leads

Where the filing is recorded

• Judicial foreclosure states: the lender sues in court. Look at the county court or clerk of courts, and for a lis pendens notice at the recorder.
• Non-judicial states: the lender records a notice of default or a notice of trustee's sale. Look at the recorder or the trustee.
• Sheriff sale: the final sale in many judicial states. The sheriff, marshal or court posts the date.

Which kind of state am I in?

It matters for timing. In judicial states it can take many months from filing to sale. In non-judicial states it can be much shorter. Our state pages show the type and the redemption rule for every state we cover.

Working the lead

• Contact early, when the owner still has choices.
• Check the owner's equity. Owners with equity often prefer selling to losing the house.
• Be clear that you are an investor and not a lender or a government office.
• Know the redemption and reinstatement rules in your state.

Rules to know

Some states have specific rules on contacting homeowners in foreclosure, and foreclosure rescue scams are heavily regulated. Be honest, put terms in writing and use a title company or attorney.

What the data shows

In the 86 counties that publish foreclosure cases, 0.3% of properties are in foreclosure. The sheriff sale list is a smaller, later list of properties with a sale already scheduled.