News
The Wisdom Companies Launches Homesedo, the First Database of Active Homeowners Behind on Mortgage Payments
December 03, 2007 (Hermosa Beach, CA) – Internet marketing firm The Wisdom Companies, today launched Homesedo.com, the first online database of active homeowners who are behind on mortgage payments. Homesedo is designed to help service providers find homeowners who have fallen behind on mortgage payments and may be headed for foreclosure.
"The earlier you can contact a homeowner in danger of foreclosure, the more options you can present, whether it's a short sale, a mortgage loan, loss mitigation or an home purchase" said Tim Edwards, Wisdom's co-founder and president, "Homesedo's differentiator is that our data is provided by the homeowners themselves. We can know that a homeowners is headed for foreclosure several weeks, or even months, in advance of their data hitting public records."
Current foreclosure sites compile data from public records. After a homeowner falls behind on mortgage payments a bank files a Notice of Default (N.O.D.). Several weeks later the bank will file foreclosure. The entire process can take 3 - 9 months or longer depending upon the laws of the state and the lender's processes.
"The downside to current foreclosure sites is that they collect passive data. A user knows someone is in the foreclosure process but they don't know if a homeowner has already left the house, or if they even are interested in their services. As a result, a user can spend a great deal of time prospecting," said Edwards, "Homesedo's listings provide full phone, email and contact information. Most importantly, our leads want to talk to someone. They need help, and they are reaching out."
According to RealtyTrac, the number of foreclosures has risen over 93% since last year. Projections call for 2 million more foreclosures in the next 12 months.
"There is great opportunity for companies to service this booming market," said Edwards. "The key is to speak to the borrower as early as possible. We provide that information."
Homesedo offers monthly a subscription for $39.95, which includes downloads of 10 records. Additional downloads are priced at $9.95 each. To celebrate the site's launch, the company is offering a free 1 week trial.
The Wisdom Companies is a premiere provider of internet generated leads for financial services firms. Since 2002, the company's BigMortgageLeads.com division has connected over 500,000 borrowers with lenders, mortgage brokers and banks throughout the country. Wisdom recently launched Homesedo.com, a database of pre-foreclosure properties targeted at investors and real estate agents, and RevLifter.com, an ad network designed to increase revenue for lead generators via confirmation page data monetization.
