– With homeownership in jeopardy for millions of underwater American homeowners, completing a short sale is a blessing though it requires a lot of hurdles and paperwork. For most real estate professionals, finding the right short sale prospect is also difficult because many banks won’t qualify homeowners for a short sale. The conditions for a short sale to happen are not just an upside down LTV, the borrower must also be facing hardship.
To this end, Black Book Data has developed a set of database relationships that allows businesses to target homeowners with genuine, banked accepted, hardships. These homeowners are 30-180+ days late on their homes and can be customized based on over 2 dozen criteria. Market to homeowners based on the size of their loan and length of their delinquency as well as when the property was purchased as well as credit scores.