Foreclosure Data Used By Foreclosure List Services

[houstonrunner]

Question:

With all of the foreclosure listing services on the web for Houston, does anyone know how these foreclosure listing services get their data? Being a database administrator with a software development background, I find it hard to believe that these companies are sending employees down to city hall with laptops to manual type in information from public records. Some of these companies even claim they have pre-foreclosure listings...

Does anyone know how these foreclosure listing companies are getting their data?

And how accurate are these foreclosure lists?

Thanks!

[RedScare]

I can't say for sure, since I've never looked at the foreclosures much closer than noticing the notices posted on the board at the Family Law Center (where the auctions are held). However, I do have some knowledge of other "lists" that are created from public records, and many are in fact created by people with laptops.

For instance, when someone is arrested, they are deluged with letters from bail bondsman and lawyers. The arrest is public record. Numerous clerks for companies that provide the letter sending service will sit at public terminals and type the info into laptops to create the mailing list.

The District Clerk has several lists that they can print off for a fee. Almost anything on the computer can be accessed for a price.

However, foreclosures require a lawyer hired by the mortgage company to post the notice. Unless something has changed recently, I am unaware of a requirement to file the notice of foreclosure with the Clerk. It merely is posted at the courthouse.

Since any lawyer can post the foreclosure, there would be no central database. This suggests that to compile the list, someone indeed types it into a laptop and sells that info to anyone who will pay for it.

[TJones]

All foreclosures are listed at each county courthouse. Some websites may get their listings from banks themselves, but the information is made public for anyone to see at the courthouses.

I guess I wrote this just to reitirate what Red posted.

[hydepark]

: ] [be careful with these foreclosures. The sellers do not have to give any disclosure in Texas on them. My house has been empty for over a year..... and they are over there right now covering up and patching. There is black toxic mold, and I have the reports: in the A/C ducks under the carpet and in the walls. There is even a suit in Judge McCorkel's court... open records where the builder filed suit on the roofer and sub contractor telling about all the defects in my house and all the water in the walls. They have removed a truck load of wet insulation and they have put new insulation in, but the wood is still rotted and molded.

A baby or puppy is at great risk or if you have any allergies at all. This house was apprasied at $408,000 the day I bought it, and century 21 excel has it listed in the low $290,000 but would probably take less to dump it. It was at auction at the family law center back in June... BUT NO ONE WAS DUMB enough to bid on it.

But it looks really good from the outside, the holes from the water testing have been covered up and the shower put back in and I guess they covered up the mold on the walls, ceiling and pantry. Probably has new carpet in the bedroom where the mold was growing out of the floor. The windows that were installed upside down, still seem to be. You would have to know to look at the top ones, to see the weep holes are upside down.

It is on the clue list with State farm, listed as not coverd, because of builder defects and substandard constuction, so you may have a problem getting insurance on it. However my plants are gorgous, I did the yard myself and the trees and flowers are unbelivable. My mother was a landscaper and some of the plants were hers. It makes me sad to see them left there, but they were to big to afford to move again. It makes me sad to drive and see how much money we lost. It makes me sad to see the unbeilvable mess my neighbors are in... or the new owners that these properties were dumped on. It should have been torn down. All the fianancial heartbreak and emotional pain this builder caused is not civil it is criminal.a

Buyer Beware is an understatement .

quote name='RedScare' date='Sunday, July 10th, 2005 @ 2:58pm' post='33899']

I can't say for sure, since I've never looked at the foreclosures much closer than noticing the notices posted on the board at the Family Law Center (where the auctions are held). However, I do have some knowledge of other "lists" that are created from public records, and many are in fact created by people with laptops.

For instance, when someone is arrested, they are deluged with letters from bail bondsman and lawyers. The arrest is public record. Numerous clerks for companies that provide the letter sending service will sit at public terminals and type the info into laptops to create the mailing list.

The District Clerk has several lists that they can print off for a fee. Almost anything on the computer can be accessed for a price.

However, foreclosures require a lawyer hired by the mortgage company to post the notice. Unless something has changed recently, I am unaware of a requirement to file the notice of foreclosure with the Clerk. It merely is posted at the courthouse.

Since any lawyer can post the foreclosure, there would be no central database. This suggests that to compile the list, someone indeed types it into a laptop and sells that info to anyone who will pay for it.

[Parrothead]

Just as RedScare and TJones mentioned, you can easily get the info yourself. These so-called "in-the-know" hot list web companies that promise you all sorts of secret foreclosure lists are full of it. They get their info the same way everyone else does...so if you don't want to deal with going to the various courthouses, they are a good way to go, but just know what you're dealing with.

The best thing to have when checking out a foreclosure is a good INSPECTOR.

[jm1fd]

The best thing to have when checking out a foreclosure is a good INSPECTOR.

I'd say the best thing to have when looking at foreclosures is a good CONTRACTOR....they'll be catch everything an inspector will, plus be able to tell you how much it'll cost to fix.

[Parrothead]

Yes, but you can always sue an inspector if they miss something huge.

[hydepark]

Just as RedScare and TJones mentioned, you can easily get the info yourself. These so-called "in-the-know" hot list web companies that promise you all sorts of secret foreclosure lists are full of it. They get their info the same way everyone else does...so if you don't want to deal with going to the various courthouses, they are a good way to go, but just know what you're dealing with.

The best thing to have when checking out a foreclosure is a good INSPECTOR.

If the bad people tear out sheetrock and repaint how would your inspector know that mold was all in there and the studds were rottied . I really want to know.

[HeightsGuy]

Are you looking to buy for yourself or flip? If flip, don't believe the hype on the Saturday morning infomercials. There are too many amateurs in the field driving up the price of foreclosures to make any money on them. Also, with interest rates so low, it takes a lot to actually get to a foreclosure, and it usually means there is something terribly wrong with the listing in the first place as in Hyde Park's example.

[jm1fd]

If the bad people tear out sheetrock and repaint how would your inspector know that mold was all in there and the studds were rottied . I really want to know.

Air quality testing might catch the mold....things have to be wet for a LOOOONG time for anything to rot badly. If the studs were rotten, the "bad people" would have quite a time getting fastners to stay in the wood to hold the new drywall up.

[Sonia]

The law firm I work for now and the law firm I worked for previously = bankruptcy, foreclosure, litigation, sequestration, loss mitigation.

We work a few months a head of time, for example, tomorrow is our February sale.

All of the properties up for the February sale tomorrow were prepped and pretty much ready since December.

I have heard of co-workers being asked to give out lists of properties that will be forclosed on in exchange for a "bird-dog" fee. I am assuming that they give out a list of names of people that have filed bankruptcy to protect their homesteads and give the Debtor an opportunity to make payment arrangements in the hopes of avoiding foreclosure and call it a "pre-foreclosure" list. If the Debtor then defaults (usually the BKY plan filed permits three notice of default, if the debtor fails to cure them then a notice of termination is sent to the debtor, debtor's atty, etc. and a certificate of default is filed w/ the court. The Debtor's file is then in foreclosure. Again, I am assuming that is one way of getting the pre-forclosure listings)

From MY experience, the properties usually do not have anything terribly wrong with them at all. The main reason we see all of the bankruptcies/forclosures in our firm = people living outside of their means.

[hydepark]

The law firm I work for now and the law firm I worked for previously = bankruptcy, foreclosure, litigation, sequestration, loss mitigation.

We work a few months a head of time, for example, tomorrow is our February sale.

All of the properties up for the February sale tomorrow were prepped and pretty much ready since December.

I have heard of co-workers being asked to give out lists of properties that will be forclosed on in exchange for a "bird-dog" fee. I am assuming that they give out a list of names of people that have filed bankruptcy to protect their homesteads and give the Debtor an opportunity to make payment arrangements in the hopes of avoiding foreclosure and call it a "pre-foreclosure" list. If the Debtor then defaults (usually the BKY plan filed permits three notice of default, if the debtor fails to cure them then a notice of termination is sent to the debtor, debtor's atty, etc. and a certificate of default is filed w/ the court. The Debtor's file is then in foreclosure. Again, I am assuming that is one way of getting the pre-forclosure listings)

From MY experience, the properties usually do not have anything terribly wrong with them at all. The main reason we see all of the bankruptcies/forclosures in our firm = people living outside of their means.

The people in my neighborhood weren't living out of their means they just couldn't afford new houses and 40 to 100 thousand to repair them. The foreclosure numbers are not accurate either, bottom feeder investors contact you and they will keep you out of foreclosure if you sign a power of attorney so they can negoiciate with your mortgage company for a lower price on your house. You don't get a dime. I had a mailbox full of such offers as soon as my house was posted.

Also some mortgage companies and builders put people in houses they know they not only can't qualify for, but they know ....and do not care if the mortgage company gets stuck they got their money. The mortgage rates have doubled in the last year in Houston.

The people in my neighborhood weren't living out of their means they just couldn't afford new houses and 40 to 100 thousand to repair them. The foreclosure numbers are not accurate either, bottom feeder investors contact you and they will keep you out of foreclosure if you sign a power of attorney so they can negoiciate with your mortgage company for a lower price on your house. You don't get a dime. I had a mailbox full of such offers as soon as my house was posted.

Also some mortgage companies and builders put people in houses they know they not only can't qualify for, but they know ....and do not care if the mortgage company gets stuck they got their money. PMI insurance takes a hit too. The foreclosure rates have doubled in the last year in Houston.

[RedScare]

The people in my neighborhood weren't living out of their means they just couldn't afford new houses and 40 to 100 thousand to repair them. The foreclosure numbers are not accurate either, bottom feeder investors contact you and they will keep you out of foreclosure if you sign a power of attorney so they can negoiciate with your mortgage company for a lower price on your house. You don't get a dime. I had a mailbox full of such offers as soon as my house was posted.

Also some mortgage companies and builders put people in houses they know they not only can't qualify for, but they know ....and do not care if the mortgage company gets stuck they got their money. The mortgage rates have doubled in the last year in Houston.

50% of all foreclosures result from staggering medical bills related to illness. Others result from an extended period of joblessness. I have found that in some of the well known suburbs, poor finances related to buying too much house, trading in vehicles that are worth less than is owed, and misuse of credit cards has accounted for a substantial number of bankruptcies. After TS Allison, I handled some bankruptcies related to flooding, where the homeowner did not have flood insurance. I have NEVER handled a bankruptcy related to builder problems or mold.

The builder's job is to sell houses, not ensure that the buyer is qualified. The builder is not even privy to the buyer's financial situation. A mortgage company is in the business of selling mortgages. If they loan to someone who may not be qualified, they assume the risk if the loan goes bad.

And mortgage rates have increased from 5.5% last January to 5.875% this January. That is not even a 10% increase, much less a doubling of rates. A simple Google search would have shown this. One must wonder if all of your posts are this poorly researched.

[ldogg]

so every foreclosure be it bank foreclosure or taxing authority foreclosure has to be posted at the courthouse?? I didn't think it worked that way... I thought the banks didn't have to do that..

an REO property then is one in which the house was not purchased at auction correct and the bank is then marketing it?? or is it simply a bank foreclosure and was never up for auction??

so the list posted at the Family Law Center is for ALL foreclosures in Houston or just those tax foreclosures?

[justiceforall]

My home has not foreclosed (even after 1 year 1 month of not paying on it). I have been needing the original closing docs for a potential mortgage fraud case against the lender/builder. But, what happens when a Title Company loses your original closing documents? What recourse do I have as an owner?

After requesting a copy of my closing docs from First American Title four months ago, their auditing department finally called yesterday to admit: they have lost my original paperwork. Yes-all my closing docs. They don't even have back up copies.

Robin Nelson, Auditing, stated 99.99% of the time this doesn't happen, it must just be human error and misfiled. Oh, just oops..like that ALL my paperwork has disappared.

Sounds bizarre... You may call Robin yourself (713) 988-9999- (I couldn't believe it either).

I have filed a complaint with the Texas Dept of Insurance...what else can I do?

[RedScare]

All foreclosures on a deed of trust must be noticed to the homeowner 20 days prior to foreclosure, and posted at the courthouse of the county in which the property is located. This applies to tax authorities, banks and owner financed property. That is how you get the property back.

I don't know what an REO is. However, if a bank is selling the property, it is often because they were the only bidder at the foreclosure auction. The bank bids because they don't want someone walking off with the property for less than what is owed.

justiceforall, when you closed on your house, you should have received a copy of the closing docs. Assuming that you also lost yours, the seller, and any real estate agents would have also received a copy. You should contact them to see if they still have theirs. Also, the mortgage company has a copy, though they probably won't help you if you haven't paid them in a year. You can also go to the proerty records to see what documents were filed with the County Clerk, but it likely will only be the warranty deed and deed of trust.

[justiceforall]

Also, the mortgage company has a copy.... You can also go to the proerty records to see what documents were filed with the County Clerk, but it likely will only be the warranty deed and deed of trust.

Red, Thanks for the advice. I did receive a copy at closing (but not its entirety). When I compared my copies to the property records filed at the County Clerk's office, there were significant variations in the numbers. Enough to raise a red flag for mortgage fraud. The entire stack of original docs are key to a winnable mortgage fraud case. Coincidence now my file has gone MIA... Is there anything else I can do?

My Mortgage Company: First Texas Residential has failed to return my calls, certified letters, and faxes.

My broker, Doug Brown, has been investigated and put on notice from Texas Savings and Loan Dept. Tremont has failed to return my calls, letters, etc. too.. no suprise there.

Sounds like a conspiracy theory, I tell you the whole thing is bizarre...

[ldogg]

I don't know what an REO is. However, if a bank is selling the property, it is often because they were the only bidder at the foreclosure auction. The bank bids because they don't want someone walking off with the property for less than what is owed.

REO = real estate owned.... the bank is marketing their foreclosure

is there any way to tell down at the courthouse whether a property is being foreclosed due to taxes or default on the mortgage? I'm interested in getting into the foreclosure game, but need to learn more...

[RedScare]

REO = real estate owned.... the bank is marketing their foreclosure

is there any way to tell down at the courthouse whether a property is being foreclosed due to taxes or default on the mortgage? I'm interested in getting into the foreclosure game, but need to learn more...

Yes, the entity doing the foreclosure is listed on the foreclosure notice. However, you'll want to know who else is owed money on the property. For instance, when I was a condo owner, we foreclosed on a unit for unpaid maintanance fees. But, our fees were last on the food chain, so any taxes or mortgage debt is still owed.

[ldogg]

guess the best thing for me to do is drive down there and see the list... where exactly at the family law center is it posted?

[hydepark]

50% of all foreclosures result from staggering medical bills related to illness. Others result from an extended period of joblessness. I have found that in some of the well known suburbs, poor finances related to buying too much house, trading in vehicles that are worth less than is owed, and misuse of credit cards has accounted for a substantial number of bankruptcies. After TS Allison, I handled some bankruptcies related to flooding, where the homeowner did not have flood insurance. I have NEVER handled a bankruptcy related to builder problems or mold.

The builder's job is to sell houses, not ensure that the buyer is qualified. The builder is not even privy to the buyer's financial situation. A mortgage company is in the business of selling mortgages. If they loan to someone who may not be qualified, they assume the risk if the loan goes bad.

And mortgage rates have increased from 5.5% last January to 5.875% this January. That is not even a 10% increase, much less a doubling of rates. A simple Google search would have shown this. One must wonder if all of your posts are this poorly researched.

You are correct Imisquoted. Mortgage rates have not doubled ,foreclosure rates have. I meant to say that. Because that I did research.

[TexasArchitect]

I can't say for sure, since I've never looked at the foreclosures much closer than noticing the notices posted on the board at the Family Law Center (where the auctions are held).

The District Clerk has several lists that they can print off for a fee. Almost anything on the computer can be accessed for a price.

However, foreclosures require a lawyer hired by the mortgage company to post the notice. Unless something has changed recently, I am unaware of a requirement to file the notice of foreclosure with the Clerk. It merely is posted at the courthouse.

wow!, i'm new to this site and have come to find out that using the search button here gives great results.

this forum is full of useful info!! i never knew that the auctions for foreclosures were held at the Family Law Center.

I'm trying to do research on how to successfully purchase a foreclosed home (i'm trying to get into real estate), but everytime i asked someone where these auctions are held they get vague like they don't want to share info

this web site is great!!! thanks for all the info, and i look forward to learning more on here

[pachanga]

: ] [be careful with these foreclosures. The sellers do not have to give any disclosure in Texas on them. My house has been empty for over a year..... and they are over there right now covering up and patching. There is black toxic mold, and I have the reports: in the A/C ducks under the carpet and in the walls. There is even a suit in Judge McCorkel's court... open records where the builder filed suit on the roofer and sub contractor telling about all the defects in my house and all the water in the walls. They have removed a truck load of wet insulation and they have put new insulation in, but the wood is still rotted and molded.

Who was your builder?

[TexasArchitect]

just to verify, is this the location to the family law center?

family law center location

if so what does one do when they go there? is there just a list posted up somewhere and see this list of foreclosures??

also, i saw on a 20/20 special a while back...they did an investigation on some guy who owed so much taxes but the city still let him purchase auctioned homes that were being auctioned by harris county. is this auction the same thing as what the family law center has??

thanks

[mpbro]

Zillow displays foreclosure data for Houston. For instance, enter your address on fixfliprent.com's zillow tool and you get a bunch of "comps". These are all foreclosures... Not real useful for normal comps, but it's a free interface to the data.