How to avoid stale foreclosure leads
Most foreclosure lists are built from filings, and filings do not expire when a case ends. Check the case status on the court docket, the current owner on the latest deed, and the date of the last action before you work a lead.
Reviewed
Why lists go stale
- The owner paid, refinanced or settled, and the case was discontinued.
- The property sold, so the person on the list no longer owns it.
- The case has sat for years with no action and is unlikely to move.
- The filing was for something else, such as a lien, not a mortgage default.
The four checks
- Case status: open, stayed, discontinued or disposed.
- Last action date: when anything last happened on the docket.
- Current owner: the latest recorded deed after the filing date.
- Case type: a residential mortgage, a commercial loan, a tax lien or a condo common-charge claim.
Hercules reads the docket for each open NYC case and marks the stage it has reached, so a dead case does not look like a live one.