foreclosureradar.com, a US online foreclosure marketplace aimed at professionals, rather than consumers, is expanding into four new states.
From its home base in California, foreclosureradar.com will soon add Arizona, Nevada, Oregon and Washington.
foreclosureradar.com is aimed at “professional” investors, realtors, government agencies and financial institutions and offers what it says is the freshest foreclosure information, including exclusive daily auction updates, under the mantra: “No fluff. No hype. Just better insight for savvy professionals”.
The site prides itself on providing credible, up-to-date data. foreclosureradar offers its members reliable information on properties in every phase of the foreclosure process from preforeclosure (when a homeowner is given a notice that they are in default), to auction (when the lender takes bids on foreclosed property in a public forum), and REO (or real estate owned, where the lender takes ownership of a property that fails to sell at auction).
The main site runs on a subscription model, which costs $49.95 a month. The company has already created a free online community, foreclosuretruth.com, for participants in the foreclosure market.
Unlike other foreclosure websites, foreclosureradar.com hasn’t lost sight of the deeper issues involved in foreclosure. As they write:
“Underneath the data, beyond the website, lies our real difference: An unflinching commitment to speaking the truth about the foreclosure marketplace. Foreclosure is an unpleasant process. There are human beings behind the numbers. Those who want to get rich quick should seek other venues. It’s time to clear the air of hype.”
The website’s founder and CEO, Sean O’Toole, nearly lost his own home to foreclosure 20 years ago, and set up the website as a result of his experiences later on as an investor in foreclosed property.