Frequently Asked Questions
Questions about Default Research, Inc.
- How are you able to obtain pre-foreclosure data so quickly?
- Why is it important to have fresh pre-foreclosure leads?
- How do you verify the phone numbers of individuals in default?
- Do you provide mailing address information in addition to phone numbers?
- What features does your online pre-foreclosure database provide?
- How does Default Research compare to the competition?
General Questions
- What are pre-foreclosures?
- What is the foreclosure timeline?
- Where does our information come from?
- How do I contact the homeowners?
- Who uses your services?
Billing Questions
- How much does your service cost?
- Why does the Default Research service cost more than others?
- Do you offer long-term contracts?
- Do you offer a free trial?
- How do I cancel your service?
- What are your terms of use?
- What types of payment do you accept?
Questions about Default Research, Inc.
How are you able to obtain pre-foreclosure data so quickly?
Default Research gathers its information faster than the competition because we collect our own data. Our staff collects data personally, straight from the source - the county clerk's office. This eliminates the need for us to wait for a third party to gather our information for us.
Ninety-nine percent of our competitors gather data from a third party. These third parties gather their data by the electronic scanning of court documents. In general, only 60 to 70 percent of these court documents are ever published by other listing companies. As well, these court documents are never standardized, and may contain handwritten information, making this method both time-consuming and high-risk with regard to accuracy and timeliness.
Why is it important to have fresh pre-foreclosure leads?
In general, a homeowner will be contacted at least 100-200 times during the pre-foreclosure process. This is why one of the keys to successful foreclosure investing is being the first to approach the homeowner. You will have a much higher chance of success if you are one of the first 10 to approach the homeowner than if you were one of the first 100.
Another reason why it's important to have fresh pre-foreclosure leads is so that you can seize the opportunity while it exists. Some providers offer data that is weeks or months old - in that time, properties may have already been sold at auction.
How do you verify the phone numbers of individuals in default?
We have partnered with a very reliable and independent data appending service that provides us with timely and accurate phone numbers of people in default. This saves our customers the time and cost of looking up phone numbers. In addition, because a phone call is very cost-effective and quick it can be an extremely effective method of contact.
Do you provide mailing address information in addition to phone numbers?
Yes, we provide property addresses along with their mailing addresses. This information is provided with our online database and can also be downloaded in spreadsheet format, making mail merging with letters, envelopes and labels easy.
What features does your online pre-foreclosure database provide?
Our new state-of-the-art database provides a wide variety of resources. In addition to property and loan information we provide free comparable property reports, automated valuation models and satellite photos of properties. Our database also offers enhanced search options that allow you to find properties based on your selected criteria.
How does Default Research compare to the competition?
Default Research provides a unique combination of services that our competitors do not. In addition to providing the most up-to-date information, Default Research goes one step further and gives you the tools you need to profit from our leads. As well, by combining our timely information with verified phone numbers and our state-of-the-art database, our clients enjoy a huge advantage over those individuals who use our competitors.
General Questions
What are pre-foreclosures?
A pre-foreclosure occurs when a property owner has defaulted on their loan payments. The foreclosure process is usually initiated by the property owner's lender in the form of an official "Notice of Default" document to the property owner. However, the property will still belong to the owner as long as the pre-foreclosure period lasts (which will depend on the foreclosure process's type and applicable legal documents signed at the time of property purchase).
What is the pre-foreclosure timeline?
The foreclosure timeline varies from state to state, as the chart below illustrates:
 |
State | Initial Document | Other Documents | Approx time until auction |  |
| AZ | Notice of Trustee Sale | 3 months | |||
| CA | Notice of Default | 4 months | |||
| CA | Notice of Trustee Sale | 4 weeks | |||
| DC | Notice of Default | 2 months | |||
| DC | Notice of Trustee Sale | 4 weeks | |||
| FL | Lis Penden | 5-6 months | |||
| GA | Notice of Trustee Sale | 4-6 weeks | |||
| MD | Notice of Default | 2 months | |||
| MD | Notice of Trustee Sale | 3 weeks | |||
| MI | Notice | 4 - 6 weeks | |||
| NC | Notice of Default | 2 months | |||
| NC | Notice of Trustee Sale | 3 - 4 weeks | |||
| WA | Notice of Trustee Sale | 3 months | |||
 |  |
Where does our information come from?
All of our information is gathered from the county courthouse by our staff. We do not outsource or use electronic collection methods. Once information has been gathered from the courthouse, it is checked against various databases and appended with additional information before it is distributed to our clients. We control the entire data collection and distribution process from start to finish. This is why our data is so valuable and up-to-date.
How do I contact the homeowner?
There are three options when contacting a homeowner who is facing foreclosure.
1. Phone
Advantages
- Cost effective
- Less time consuming
- Safe
2. Direct Mail
Advantages
- Ability to deliver various pieces of mail without being overly aggressive
- Gives you the opportunity to wait for the homeowner to call you
- Safe
3. Door Knocking
Advantages
- Ability to talk with the homeowner face-to-face
Disadvantages
- Time consuming
- May be dangerouse
- May scare the homeowner
Who uses your services?
Our timely pre-foreclosure information has been used by:
- Loss Mitigation Specialists
- Individuals looking to buy their own home at significantly discounted rates
- Investors who wish to achieve the best buy at below market prices in order to increase their profits
- Real estate agents interested in reaching the seller quickly in order to be the first to list their home
- Lenders seeking new borrowers, as default homeowners need a loan intermediary and a new loan program
- Consumer credit counseling agencies looking for new customers
- Attorneys who assist the homeowner in making the best decisions both during and after the foreclosure process (i.e. bankruptcy and protection of personal assets)
Billing Questions
How much does your service cost?
The cost of our services varies, depending on state and county. Counties with more listings per month tend to be more expensive than counties with fewer listings per month. Please click the following link for more information about pricing: http://www.defaultresearch.com/shoppingCart
Why does the Default Research service cost more than others?
Because the information we distribute to our clients has been hand collected and verified, which incurs additional costs. It's a fact that you can obtain pre-foreclosure information for less from national companies, but they purchase their data from third parties. In addition, the information they purchase is old and incomplete. Quality 'live leads' hold much more value to our clients than inferior 'dead leads'.
Do you offer long-term contracts?
No, our service is billed on quarterly, semiannual and annual subscriptions.
Do you offer a free trial?
No, out of respect for our active clients, we do not offer a free trial. Our clients pay a premium for our service, and by allowing hundreds or thousands of individuals to use our data for free, our current clients would be forced to compete with those who requested a free trial. You can, however, view a sample listing by visiting the following link: http://www.defaultresearch.com/shoppingCart/sample
How do I cancel your service?
All Default Research listings are sold on a subscription basis. Canceling your service is simple. You can simply send an email, letter or fax including the following information (Name, County(s) Ordered, and Email Address) to us 5 business days before your next billing cycle.
Email: info@defaultresearch.com
Fax: (412) 291-1971
U.S. Mail: P.O. Box 663, Mount Pleasant, PA 15666
What are your terms of use?
You can find our terms of use by clicking here http://www.defaultresearch.com/shoppingCart/tos
What types of payment do you accept?
We accept Visa and MasterCard through our online shopping cart - this our preferred payment method. We also accept checks and money orders (a $25 service charge will be applied to each check or money order transaction).
