Loan info frequently reported inaccurately


#1

We are evaluating your service and find that loan info is frequently incomple and/or reported inaccurately. However, when crossed referenced to other foreclosure listing services they all seem to report loan amounts and positions accurately after verifying with title companies. Please elaborate and explain foreclosure radr is doing if anything to improve this problem. Thank you.


#2

you are crazy if you are going to trust any website that tells you what loan position you are buying… you better rely on your own research!


#3

Having bought 150 properties at auction I have to agree with Anonymous on this one - you really need to verify title before buying anything. ? We do our best to make it clear that we are using a computer model to estimate loan position, and while that model generally does a pretty good job, it certainly isn’t perfect. ? Typically when we hear this complaint it is because the user is searching for properties with significant equity. Equity is a pretty rare thing to see in a foreclosure these days (at least before the lender discounts at trustee sale), and as such the only results returned when searching for equity are the ones that have an error in our estimate of loan position. ? What you need to keep in mind is that the search has still narrowed your list of properties to exclude the 90% that we did correctly model and which clearly had zero equity. That’s the goal of our service - to save you time by eliminating those that clearly don’t meet your criteria, while not eliminating those that might, even though further research may be required. ? As for your claim that other sites are more accurate with regard to loan position, I will say that I am aware of one company in California that hand researches title and therefore likely does a better job then we do. But they have limited search capability, offer only a limited title search, don’t track the auctions, and charge 7 times what we do for just a handful of counties. The extra cost is likely justified given the manually researched title, but we’d remind you that you still really need to research title yourself before purchasing using either site so we’re not sure its worth the extra for most people. ? Bottom line we will continue to try to improve our loan position algrorithms, but we’re comfortable that we’ve created the right mix of affordable pricing, solid data, and great software for the majority of our members.


#4

I agree with all of you on this one! I am aReal Estate Broker. I still double check all my facts with more than one Title Company and then some.?I find Foreclosure Radar to be pretty darn close, if not right on the money. No matter where you get your facts, get more to be sure, before you make your investment. Due diligence is YOUR responsibility! I love Forclosure Radar! Use it as ONE of your tools.?