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One of my goals is to offer you valuable information that will immediately impact the bottom-line of your mortgage business. What I find lacking in many of the *professional* trade publications out there, is real-life ACTIONABLE information you can take-away today and begin generating actual business from tomorrow.

Many of you have emailed me asking about new sources of business. And, besides beating down realtors door's (which every other monkey loan officer is doing), there are huge segments of the market you may have overlooked. With interest rates rising fast, personal bankruptcies and foreclosures are increasing steadily. And this is a market segment you CAN NOT IGNORE.

Properties in foreclosure can be a boondoggle for you whether you are an investor looking to pick-up a bargain property, or a loan officer ready to swoop-in and save someone's property from the Repo Man.

For mortgage people, foreclosures can generate business 3 ways:

1. You can try and fund the property, pay off the note and save it from the bank. (Be aware that not all lenders, especially A-paper will do a property in foreclosure).

2. You can secure the new loan from the new buyer of the property and provide financing as a purchase loan.

3. You can get the person who was foreclosed upon, a new loan for a new property. Many B-paper sub-prime lenders will finance a person even just 1-day out of bankruptcy.

These are 3 immediate things a pre-foreclosure property can give you. Here are some methods you can use to locate these type of deals.

1. Referrals from title companies, real estate attorneys, other lenders etc. There are many 3rd parties involved in the foreclosure process and nothing happens in a vacuum. Chances are, you will hear about it if you have your ear to the ground.

2. Check the newspaper under the properties section. Also, be sure to read the smaller dailies and weeklies that are out there.

3. Subscribe to a clipping service that find the leads for you. Many press clipping companies will also clip other information if you ask. Check in the phone book under media, press or public relations.

4.Subscribe to an internet site such as Foreclosureleads.com, Foreclosures.com, Foreclosurelistings.com Prices vary by service and state. You will want to investigate their source for the data to be sure you are getting the most accurate and up-to-date information.

5. Go directly down to the courthouse yourself and ask. Property undergoing foreclosure is public information and you have a right to get access to it. This is the most direct and cost effective route, though it may be very intensive.

In conclusion, don*t give-up because all the refinance loans have disappeared. Change your strategy and try something different. Top producers succeed because they can adapt to market conditions and are willing to go where others won*t. Take steps today, and I can guarantee you will have more fresh loans tomorrow.