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Just last week, the Senate passed the latest foreclosure rescue bill designed to help distressed borrowers. This plan will allow the Federal Housing Administration to offer $300 billion in new loans to about 400,000 borrowers who are not able to qualify for the loans otherwise. But, are the Democrats and Republicans fighting for November election votes or are they fighting for their constituents economic lives and homes?
Unfortunately, we will never know the real answer to that question! I know one thing though -- our clients are constantly using our leads to be the first to approach homeowners in distress and help strangers, neighbors, and sometimes family members out of foreclosure. In fact, one testimonial we recently received made me particularly proud:

"Talk about being the first to approach a homeowner in distress. How about actually notifying a homeowner over the phone that they were in foreclosure! It happened with the Default Research verified phone numbers. The phone numbers are crucial in getting to the homeowner quickly. Keep up the great work!"

Jenny (Realtor)
Miami, FL

I spoke with Jenny directly and she said that she has personally saved four homes this year, including being the first to tell that homeowner they were in foreclosure and helping them actually stay in that home. So, Jenny - you keep up the great work.

We find out in this issue of the newsletter that there is a lot more work like Jenny ' s to be done. Check out that Macomb County in the Detroit area and Pima County in Phoenix both saw decreases in their foreclosures last month. This is good news for these two regions that have been some of the hardest hit in the Default Research coverage area. You will also read in the newsletter about how our clients are affected by the Federal Reserve's recent decision to keep interest rates static.
And, please keep the good honest success stories coming our way. As the politicians are fighting amongst themselves in Washington, D.C., let's keep fighting all around the country for families in foreclosure!

Tough economic times for the country do not always spell bad times for everybody. Yes, the foreclosure situation and rising food and fuel costs need to be addressed, but did you know this is the perfect time to invest in the real estate market? High inventories, low prices plus low interest rates equal a tremendous incentive to buy now! The Federal Research recently added more reason to begin investing with their decision to keep interest rates static.

There are also fears of rising inflation which will most definitely lead to mortgage rates going up. Three words: Buy and rent. Buying and then turning the property into a rental property will yield excellent results in today's market. With credit criteria tight and interest rates on the rise, people will be unable and/or unwilling to buy, and they will turn to the rental market. This applies to both the condominium and single family markets. Many developers did condo conversions in the past five years; therefore the number of apartments available has declined as demand is growing. As for the single family market, the median income homes are the most desirable. To tell you the truth, we know from our research and from our clients that there is not enough single family homes available in the market for the middle income family.

Additionally, real estate is a great hedge against inflation. It can be a great asset to those who are heavily invested in more traditional assets, such as equities and bonds. With low correlation to these more traditional assets, real estate can be an excellent way to diversify your investment portfolio. Consider investing in pre-foreclosure properties at 25% to 40% below market value to enter into the real estate market.

As you consider those three words, buy and rent, it is also important to remember - the Default Research foreclosure lists are your key to securing those properties and profits.

Default Research, the premier provider of Detroit foreclosure listings, is reporting that Macomb County foreclosures were down to 686 last month from 728 in April 2008. Wayne and Oakland counties both saw increases from April 2008 to May 2008 of 157 and 135 respectively. In addition, Detroit saw foreclosure notices increase from 918 (April 2008) to 1069 (May 2008), as opposed to 953 (May 2007).

"Overall housing inventories in this region have been dropping over the past 12 months, and median home values have stabilized," said Serdar Bankaci, founder of Default Research. "There are good investment opportunities here and, because the Michigan foreclosure process is very quick, getting the fresh Default Research list for that area is the key to being the first to approach a homeowner in distress."

Bankaci continued, "This region's economy is based largely on the automotive industry, and with the increase in fuel costs, many automakers are beginning to cut jobs. Unfortunately, the slight improvement these past few months could be followed by harder times."

Below is a unique and accurate local look at how the Default Research foreclosure statistics affect your area:

Wayne County Foreclosures - Hardest hit cities Detroit (1069), Redford (95), Dearborn Heights (82), Westland (81), and Dearborn (67)

Macomb County Foreclosures - Hardest hit cities Warren (121), Sterling Heights (76), Roseville (62), EastPointe (59), and Clinton Township (58)

Oakland County Foreclosures - Hardest hit cities Southfield (83), Pontiac (68), Farmington Hills (47), West Bloomfield (39) and Oak Park (32)

Default Research provides Detroit foreclosure listings mere days after being recorded, and our statistical data contains all Trustee Notices that were filed. The statistics count each property only once in a 12 month period. More information about Default Research can be found at its Web site: www.defaultresearch.com. For more detailed Michigan foreclosure statistics listed by county, please visit http://www.market.defaultrsearch.com.

Order the freshest leads from any Default Research county for six or more months and receive a free copy of, "The Pre-Foreclosure Real Estate Handbook: Insider Secrets to Locating and Purchasing Pre-Foreclosed Properties in Any Market."

"Imagine Being Able to Consistently Get Seller's To Sell At A 20% to 50% Discount!"