A professionally-written sample pre-foreclosure letter can be found on the "Pre-foreclosure Letter" page on the CameronDirect website. This sample uses professional and direct language, and it serves as a good guide to writing a pre-foreclosure letter.Continue Reading
When a loan is taken out, the person who is receiving the loan gives certain assets as collateral to the loan lender. If the borrower fails to make payments back on the loan as agreed upon at the time the loan was given, the asset used as collateral by the borrower can be forced to be sold in order to pay off the loan to the lender. When the asset is forced to be sold, it is called foreclosure. Before foreclosure happens, the borrower enters a pre-foreclosure period in which investors may be able to purchase the property used as collateral for cheaper than normal because the borrower is desperate to not get foreclosed upon.
Pre-foreclosure letters are the letters sent by investors to loan borrowers who are in danger of being foreclosed upon. These letters must be well-written in order to persuade the borrower to sell their property. CameronDirect, a website for entrepreneurs, has a well-written pre-foreclosure letter sample on their website that will help guide investors through the writing process using professional and persuasive language.Learn more about Real Estate