How to Get a Pre Foreclosure List: Sources & Steps

Pre-foreclosure refers to a phase in the real estate process where a property owner has defaulted on their mortgage payments, but the lender has not yet completed full foreclosure proceedings. This stage begins after a homeowner misses several mortgage payments. While the property is not yet bank-owned or actively listed for sale through traditional foreclosure auctions, the owner still retains legal title. This period offers potential for direct negotiation with the homeowner, as these properties are often not widely advertised on the open market.

Understanding Pre-Foreclosure Properties

A property enters pre-foreclosure when a homeowner fails to make timely mortgage payments, leading to a loan delinquency. This period commences after missed payments, at which point the lender initiates formal steps to address the default. The initial action taken by a lender is often the filing of a Notice of Default (NOD). This public document formally declares that the borrower has failed to meet their loan obligations, detailing the amount owed and actions required to rectify the situation.

Following the Notice of Default, a Lis Pendens (LP) may be filed. A Lis Pendens serves as a public announcement that a lawsuit concerning the property has been initiated. This filing clouds the property’s title. During this period, the homeowner still holds ownership and has various options to avoid full foreclosure, such as negotiating a loan modification, pursuing a short sale, or arranging a deed in lieu of foreclosure.

Sources of Pre-Foreclosure Data

Information regarding properties in pre-foreclosure can be obtained from both public records and specialized private data providers. Public records serve as the foundational source, as specific legal filings mark the progression into the pre-foreclosure stage.

Pre-foreclosure filings, such as the Notice of Default and Lis Pendens, become part of the public record. These documents are maintained and filed at local government offices, including the County Recorder’s Office or the Clerk of Courts. The information contained within these public filings includes the homeowner’s name, the property’s address and legal description, details about the lender, and the amount of the outstanding debt.

Private data providers offer a more convenient alternative by aggregating and compiling this publicly available information. These companies aggregate publicly available information and often enhance it with additional property details. They offer subscription-based services that provide organized lists of pre-foreclosure properties, accessible through online dashboards or downloadable files. Companies such as Foreclosure.com, RealtyTrac, and PropertyShark are examples of such providers. These services charge a monthly fee, ranging from approximately $40 to over $200, depending on data breadth, geographic coverage, and included features.

Steps to Obtain and Utilize Pre-Foreclosure Lists

Obtaining pre-foreclosure lists involves navigating either public access points or leveraging commercial services. Each approach requires distinct steps to gather the relevant property information.

Accessing public records often entails a manual process. Individuals can visit local county offices, such as the County Recorder’s Office or the Clerk of Courts, where these documents are officially filed and maintained. At these locations, one would typically search for specific document types like “Notice of Default” or “Lis Pendens” using property addresses or owner names. Many counties also offer online portals or websites that provide access to public records, allowing users to search for property information from a remote location. While some online access may be free, certain counties might require registration or charge a nominal fee for extensive searches or document downloads.

Utilizing private data providers involves a more streamlined process focused on subscription and data retrieval. The first step is to research and select a reputable provider that offers pre-foreclosure data for the desired geographic areas. Once a provider is chosen, users typically subscribe to a service plan, which can be structured as a monthly or annual commitment. These services provide compiled lists, often delivered through online dashboards or as downloadable spreadsheets, offering convenience and potentially broader coverage than manual public record searches. The cost of these subscriptions varies widely based on the level of detail, the number of counties covered, and additional features, with monthly fees potentially ranging from around $40 to more than $200.

After obtaining a pre-foreclosure list, the next stage involves processing and utilizing the information effectively. This includes reviewing the provided data, such as property addresses, homeowner names, and loan details, to identify properties of interest. Conducting initial research on these properties is a subsequent step, often involving online mapping tools like Zillow, Google Earth, or specialized real estate mapping software.

These tools can help visualize the property’s location and surroundings, providing context that may not be immediately apparent from the list itself. Additionally, researching property tax records through county tax assessor or collector websites can offer further insights into the property’s financial standing and ownership history. These lists serve as a starting point for further investigation, as properties in pre-foreclosure are typically still occupied by their owners and may not be formally listed for sale on the broader market.