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TheDomains.com

Foreclosures.com Owner Is Going Through A Foreclosure of Her Own: Her Own House

December 21, 2010 by Michael Berkens

According to the SacramentoBee, the owner of the domain name Foreclosures.com is going through a foreclosure of her own.

Her own House.

According to the Sacbee.com the “co-founder and face of Foreclosures.com, is herself going through foreclosure on her Fair Oaks home”.

“Records show McGee went into default on her $1.6 million loan in June and a notice of Trustee’s sale filed earlier this month shows McGee and her husband Timothy McGee owe $1.7 million on the property.”

“The home is scheduled for sale on the courthouse steps at the beginning of next month”

The Sacbee goes on to tell the story of how McGee started her website Foreclosures.com in 1995.

You can read the rest of the story (pretty much sounding like  Paul Harvey sorry) here

Filed Under: Misc

About Michael Berkens

Michael Berkens, Esq. is the founder and Editor-in-Chief of TheDomains.com. Michael is also the co-founder of Worldwide Media Inc. which sold around 70K domain to Godaddy.com in December 2015 and now owns around 8K domain names . Michael was also one of the 5 Judges selected for the the Verisign 30th Anniversary .Com contest.

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Comments

  1. Mitchell says

    December 21, 2010 at 10:44 pm

    Flashback: Foreclosure.com Parent Seeks Bankruptcy Protection

    http://www.domainnamenews.com/news/foreclosurecom-parent-seeks-bankruptcy-protection/6881

    Foreclosure.com owner is or was Brad Geisen

  2. MHB says

    December 21, 2010 at 10:50 pm

    This is foreclosures.com

    Guess neither one is too lucky

  3. landon white says

    December 21, 2010 at 11:00 pm

    @ test

    er, sorry cant help you … busy getting the lead out!

  4. Anunt says

    December 22, 2010 at 3:01 am

    Tell her to sell the domain name foreclosures.com to me for $250,000…i’ll buy it.

    I’m going to email her right now.

    If she really needs the money, she will make this deal.

    Wish me luck!

  5. Snoopy says

    December 22, 2010 at 4:45 am

    Anunt, depending on the value of the house she may not “need” the money, might be better to let it go.

  6. Keyser Söze says

    December 22, 2010 at 7:13 am

    Do the math boys. owes $1.7ml, house is worth today ? $5-700K, ever heard of Jingle Mail = no recourse to pay out mortgage debt, if they like the house so much buy it back on the court steps. The domain name is worth more than the house.

  7. money money money says

    December 22, 2010 at 9:43 am

    More proof of the power of great generic keyword domains?

  8. MHB says

    December 22, 2010 at 9:49 am

    Anunt

    If you buy the domain I expect commission

  9. Meyer says

    December 22, 2010 at 10:07 am

    $ 250k is definitely a lowball offer.

    I suspect there are 100’s of domain, advertising and real estate companies that would
    pay more than that.

    She probably received 25 offers higher than that since the article appeared.

  10. Mr. Deleted .com says

    December 22, 2010 at 11:31 am

    I was just wondering, why does she not just sell her website, it is worth $6M to $16M depending on who you ask.

    Average Monthly Search Stats

    Average Monthly Searches: 16,777,215
    Average Monthly Exact Search: 1,220,000
    Average Cost Per Click: $2.83 USD

  11. Aggro says

    December 22, 2010 at 12:36 pm

    As some posters (with brains) have already alluded to, if she decides to let the property get foreclosed…it’s purely a business decision b/c it makes financial sense.

    ^^^ LOL @ the poster above with his calculation…

    Her website (with subscription fees income stream etc) is worth a lot more than the numbers he pulled from his @ss

    In short, I think she knows a lot more than (& worth much more than) many a domainer here..

  12. Joe says

    December 22, 2010 at 12:48 pm

    Lol at you. First she is not making best use of the domain. And those are the best case numbers Mr deleted posted. And she made a bad business choice to invest in this home at the time she did. If she is such an expert, she should be able to sell a stake in the site for a a few million and pay her creditors off.

  13. Afif says

    December 22, 2010 at 2:31 pm

    Her site is ranked in the top 3 for the word foreclosures, if she isn’t making a min of $100K per month then she has a big problem here. I went to the site and its developed pretty well so I think there is something else than what meets the eye.

  14. Joe says

    December 22, 2010 at 2:38 pm

    Besides the property being foreclosed on, she has over 200k in tax liens so I highly doubt she is earning all she could from the site.

  15. Jim Holleran says

    December 22, 2010 at 3:22 pm

    That name could sell for $5,000,000 +
    High demand name, high ticket item

  16. Joe says

    December 22, 2010 at 4:10 pm

    Here’s a thought… The people searching for the term, are they investors as she hopes looking to profit from foreclosures, or more likely, victims of the economy looking to save their homes. If the later, information to help them would draw a larger audience.

  17. jp says

    December 22, 2010 at 4:19 pm

    Kinda sucks for her to get this one blasted out on the internet even further. Just saying, sounds like she’s a person and not like a big evil bank etc… Just sayin

  18. Mr. deleted says

    December 22, 2010 at 4:24 pm

    first I don’t put a lot of value in automated value scripts but they can give a general idea of a names value. I checked this at epik and it showed 16m and then at valuate and it showed 6m so no @-hole, I did not pull it “out my @SS”.

    My guess is somewhere in between the 2 numbers.

  19. Anunt says

    December 23, 2010 at 1:08 am

    I emailed my low-ball offer of $250,000 to buy the domain name foreclosures.com

    Tim McGee responded, “Best offer is currently 10 times that…. Your going to have to step up your game.”

    I replied with…my offer stands at $250k…if you want to sell at $250k, i’ll buy it…otherwise, i’m not interested…happy holidays!

    I know he is not going to agree with my low-ball offer…but out of 1000 low-ball offers that i make, one desperate person in need of cash might just say, “YES”…and 999 other people are going to be pissed off…it’s that one person that i’m looking for!

    My uncle taught me that …you can make free phone calls and send free emails to people…and if they say, “NO”…no problem…no harm done…you didn’t lose anything…but when you find that one person that says, “YES”…you’ve hit the jackpot!

    Happy Holidays!

  20. Mr. deleted says

    December 23, 2010 at 3:08 am

    2.5m is still lowball.

  21. Clear Conscience says

    December 23, 2010 at 2:35 pm

    Anunt,
    There is lowballing and then there is simply taking advantage. Your uncle may tell you that its okay to prey on people’s situation to further gain for yourself.

    Yet, I’ll tell you this. Today is not your day to make history. Sorry!

  22. Stephen Douglas_Successclick.com says

    December 24, 2010 at 9:57 am

    well, domain assets liquidation sounds good around now, if you own more than 2000 domain that are decent, I’m sure she could sell them easily to take care of ANY financially. I could be wrong, but is this irony at it’s best?

  23. David says

    December 27, 2010 at 6:20 pm

    I have to laugh. Although Alex’s foreclosure training tactics are worded more compassionately than most of her peers on the surface, make no mistake, she and Tim know how to lowball an offer with the best of them when the kiddies are about to be thrown into the street with the kitties and puppies. I was wondering what was up. She had made a big deal of no longer taking many into her expensive private training classes, then reversed that very recently. She was seeming to go into buying notes more too lately rather than taking the physical property itself over. Telling because a lot of the real estate gurus seem to be following Donna the Note Buyer’s lead and doing that slant now. Since she does not deal with banks per se, maybe the foreclosures don’t bother her as much credit wise. I’d feel bad anyway because once I make a deal with you, it’s done. No matter what it takes for me to keep up my end of the bargain. So many now are keeping their cash dry and walking away from “their word”. We all pay for it in the end.


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