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How to Investigate the Homeowners and Their Situation?

The more details you know about a homeowner and his present situation, the better able you are to help him in untangling himself from his current financial plight. Unfortunately, homeowners who are dealing with foreclosure often feel isolated, embarrassed, bitter, and defensive. They may not be honest and forthcoming about the reasons that landed them in their current financial situation, and they may regard you as merely an evil opportunist who is trying to sell their house out from under them.

In a sense, they are right. You do seek to buy the property and you want to earn a nice profit as well. But that does not change the truth that the homeowners are cornered and need to explore their financial options. Your job at this point is to convince the distressed homeowners that they will get better outcomes working with you than dealing with a person who is not quite on the level. During a discussion with a homeowner, try to be a good listener and collect enough information that can allow you to provide more useful assistance and guidance:

This short list can help you on your information gathering task, but as you meet with the homeowners, other opportunities and issues often present themselves. Develop an exhaustive record of your interviews with the homeowners so you can start to paint a portrait of their current condition in your mind. The more accurate data you have, the more productive you can be in creating workable and viable solutions.