Rec'd flyer in mail to help me prevent foreclosure....how did they know?

[nervous1]

This is probably a dumb question, but I'm going to ask anyway ;). I haven't paid my mortgage in 4 months. (Applied for a loan mod in June, still no response/answer). Have decided to include house in BK when I file...soon I hope.

Anyway, pretty much received nothing from BoA about foreclosure. A letter a couple of months ago that mentioned acceleration and then last week a collection letter from BoA's "attorney." That's it - no mention on intent to foreclose.

So, yesterday I receive a flyer from a company telling me I have options to foreclosure. My question is how do these people know we're headed to foreclosure?

[tobee43]

it's 150% a come-on...the only one that can approve your loan mod is the bank. until you hear from them directly you will be flooded with these fake offers of relief. unless the letters come certified or directly from your bank i would use them to light the fire with.

[nervous1]

Thanks for your reply. I wasn't actually interested at all in their offer - I just wondered how they knew I was behind in my payments? Is this public knowledge?

[tobee43]

"they" find out one way or another....it's a strange world that's for certain. you may think your life is basically private, but it's not.

glad you knew it was junk...

[df04527]

Fine, fine example of bureau's selling your information. Someone was looking for ALL people who are "late" by 3 or more months for example so they could mass market to them to increase thier own bottom line. Viola!

[mickeyme]

Title companies are able to run all kinds of list. I worked for a mortgage company some time ago and all we had to do ask our Title company to run a specific list. In your case the company who sent you the flyer probably requested a list of recent NOD's filed. Just wait...this is just the beginning...you will receive more. It was not by accident that a few years ago we all received calls from local mortgage companies asking us if we want to refi. These mortgage companies would run list to see which homes had loans that were ready to adjust, or homes that were almost paid down.

So to answer your question, Title companies are able to run list for properties that have NOD's filed on them. If you do not have a NOD filed on your property but you have filed for BK I am sure there are some other companies that can run a list specific to BK's as well....and that is why you received the flyer.

[df04527]

They are buying the information from the credit bureau's. OP stated they have not heard nor received any legal paperwork yet from their lender. Guarantee the lender IS reporting they are late.

[nervous1]

You know, I just don't like the idea that my personal information can be attained that easily. I thought my dealings with my mortgage company were private. Seems to me you could sue them?

[tobee43]

You know, I just don't like the idea that my personal information can be attained that easily. I thought my dealings with my mortgage company were private. Seems to me you could sue them?

nope...my dh was shocked to see that google had his ss...his cell number everything on line....nothing you can do. scary isn't it!

[BKFOURAB]

I agree that information is traded, sold, etc. and soon, everyone knows - - even your neighbors will be telephoned and "informed" somewhat.

[ryan]

If you have not received any NOD it almost certainly is 30-60-90 lates reported to Credit bureaus. ... and they do sell the data all the time. There is very little financial privacy anymore.

[tobee43]

I agree that information is traded, sold, etc. and soon, everyone knows - - even your neighbors will be telephoned and "informed" somewhat.

your SO right on that...we after 33 years "left" town....we told each neighbor a different state we were going to!! LOL!! we knew someone would have to, at some time, come a lookin for us!! that way...those that would be asked would provide conflicting answers.

it worked for us. but it was like going "underground" into hiding....yikes..

[tobee43]

If you have not received any NOD it almost certainly is 30-60-90 lates reported to Credit bureaus. ... and they do sell the data all the time. There is very little financial privacy anymore.

yes, they do. i wish someone would pass some laws about our privacy...but then again it all has to deal with getting our money to the banks one way or another...so there's simply no way out for us!! scary stuff!

[albacore44]

once you hit 3 months late, you get picked up on Realtytrac and Foreclosure.com for everyone to see. do a search by your zip code and see how many of your neighbors are in trouble. you might be shocked

[TBA]

Sorry to bump an old thread, but I think most members will find this info rather useful. You can "out out" of these mailers!!

Yes, you got the mailer because your mortgage company was reporting you late to the credit bureaus. the credit bureaus then "sell" your "information" in what they market to lenders/etc as a "prescreen"

You should know that no specific information was given about you other than your name and mailing address. The company sending you the mailer paid for your name and address based on you meeting their selected criteria. For example, a company that specializes in foreclosure assistance wants to get to you before the LP is filed. They give the credit bureau the following criteria: 1. must be 90 days late on mortgage. 2. must have a 520 credit score (showing you are making some payments). 3. must not contain BK filing. 4. must have one open credit card. 5. etc...

The credit bureau then spits out a list of names who fit those criteria. They do not give full SSNs or actual credit report data (such as your mortgage lender or other personal info (although the company paying for the prescreen may be able to pick specific lenders (at the time I worked in the industry, this was not able to be done due to predatory lending practice fears...)

And two weeks later you get a "need help? - call us" mailer in your mail box. There are some very specific rules for prescreens that marketers must follow, but with "resellers," these rules are often overlooked or ignored all together.

The good news is you can "opt-out" of prescreen offers! Its as easy as going to www dot optoutprescreen dot com - and adding your information to list. It is similar to the DNC. Most of this information can also be verified at the FTC website. (I cannot post web links yet, so you will have to search FTC and prescreen on your own).

The bad news is that you may miss out on some preapproval offers that us BKers will need to rebuild our credit.

There are other ways companies get your info, but this is usually the most common.