Newsletters

Move Seen As “Win-Win” For Investors and Families

Mt. Pleasant, PA – Default Research, the fastest growing foreclosure research company in the nation, applauded the move by the Federal Reserve to cut the key interest rate in an effort to alleviate the country’s credit crunch and to prevent a total housing market downturn. 

Serdar Bankaci, President and CEO of Default Research (www.defaultresearch.com), expects the foreclosure market to respond positively.   He is also confident that many of his clients will benefit as the Fed cut takes effect in the next few months.  Those clients will now be able to purchase foreclosed homes with the adjusted rates, just months after they had difficulty getting loan approvals and suffered from the sluggish economy. 

“Over the past few months, the increasing adjustable rate mortgages (ARM) and sub-prime loans were the main culprits for causing dramatic increases in foreclosures statistics across the country,” said Bankaci, whose foreclosure leads arrive two to three weeks ahead of the competition. “The cut will allow our clients, who are savvy investors with the freshest foreclosure leads in the business, to get approved for loans and purchase homes in foreclosure.”

Bankaci added, “When our clients, using our data, are able to help families in foreclosure, it is a ‘win-win’ for both parties.  Not only is a family spared the embarrassment of going through the foreclosure process, but the investor is buying a home at a discounted price, setting them up for personal profit in the future.”

Bankaci could not say when his clients would see a return on their properties, but he explained that it will take about a year for the broad economy to respond to the cuts.  “By purchasing foreclosed homes now, when the economy has a surplus of money, our clients will be well positioned to sell and to profit around this time next year,” said Bankaci. 

Default Research is the national leader in foreclosure research. More information about Default Research can be found at its Web site: www.defaultresearch.com. 

Quality Direct Mail Can Be Your Key Success Factor In Pre Foreclosure Investing

Default Research offers our clients the freshest foreclosure leads in the business and we also want you to know your approach to helping families in foreclosure also needs to be fresh.  The Default Research direct mailing lists are most effective when they are combined with eye-catching materials and winning strategies to help families in distress. 

Easier said then done, right?  No, you can actually make marketing your foreclosure business pretty easy.  Unique postcards that show off your originality are an easy way to grab your customer’s attention.  Postcards also make it easy on the home owner to see your effective solutions without even opening a letter.  Finally, make it easy on your wallet.  Postcards are less expensive to mail and very inexpensive to print.

You also must be right on the money when it comes to persistence.  We recommend a minimum of three to four mailings (use a different postcard each time) followed with a phone call when sending your postcards.  It is important to keep in mind that while you want to get a response from the homeowner, being overly persistent will yield a negative response.

Persistence means mailing up to four postcards and you can get pertinent information by tracking each postcard.  Make sure to include a promotional code on your postcard or letter to track which marketing message is most effective. 

Here are a few more tips to make sure your postcard mails home the message to the family in distress that you are the best person to help them avoid foreclosure!

• Use key words to show your professionalism and knowledge of the foreclosure industry

• Full color postcards are a full proof way to catch the customer’s eye

• A thick glossy coat will make you shine

• Your logo should be on both sides of the postcard

• A toll free number is money in the bank

Those are all of the “do’s” for postcards.  Now here is the No. 1 “don’t” when it comes to postcards: DO NOT USE TEMPLATE POSTCARDS.  These unoriginal postcards will yield little response and might have a negative impact on your company in the long run.

A solid marketing game plan and postcards are positive steps towards success in the foreclosure business.  By integrating the above information into your marketing plan, you can achieve the highest response rates from our pre foreclosure listing data..

According to The American Heritage dictionary, foreclose is defined as: 1. To deprive (a mortgagor) of the right to redeem mortgaged property, as when he has failed in his payments.  Foreclosure is defined as: 1. The act of foreclosing, especially a legal proceeding by which a mortgage is foreclosed.

In layman’s terms foreclosure is when a borrower fails to make payments on his or her house and the bank takes action to protect their loan.  How does foreclosure happen?

When someone buys a home they generally finance the purchase.  In other words, they borrow money.

There are two parties involved in this transaction. There is a lender, also called the mortgagee and there is a borrower, also called the mortgagor.  The lender loans the borrower money to purchase their home and, in turn, the borrower gives the lender a promissory note to repay the borrowed sum of money. 

Now, the next step is the lender has to protect their loan amount, so they use the house as collateral. 

The mortgage becomes what is called a lien on the property.  That house can’t be sold with clear title until that lien is paid off.  The promissory note is a promise that the borrower will pay the lender back in a timely fashion and as stipulated in the note. 

Note: Some states use what are called Trust Deeds as opposed to a mortgage. This newsletter is focusing on properties with a mortgage as the lien.

When a borrower does not adhere to the terms of the agreement, meaning they don’t make their payments, the lender starts the foreclosure process in order to recoup their money.  Typically, a borrower must be 90 days behind in order for the lender to the start the foreclosure process. 

This means the borrower has not made payments in approximately three months.  The borrower is said to be in arrears at this point. They owe the lender the 3 months of payments plus interest.  The lender, under the terms of the original agreement, has the right to call the balance of the loan due immediately. 

This starts the foreclosure process.  If the borrower does not pay the lender the money, the house will go to public auction and will be sold to the highest bidder.

 
About The Author:

Jeffrey Ringold is the author of ‘How To Build A Massive Fortune Through Real Estate Foreclosures’.  He is a licensed real estate agent and investor who has bought or sold over $12 million in real estate over his 7 year career.  He is consulted by leading real estate developers and investors almost daily. 

For more information on real estate investing and foreclosures, visit his web site at: http://www.MassiveForeclosureProfits.com

Pierce County Sees Foreclosures Double Over One Year    

Mt. Pleasant, PA – Default Research, the fastest growing foreclosure research company in the nation, is reporting that King County foreclosure filings are up 64 percent in August 2007 from the same time last year.   

According to Default Research (www.defaultresearch.com), King County led the state with 341 foreclosure filings.  This  is up 218 from August 2006.  The two counties following King were Pierce and Snohomish with 300 and 132 foreclosures respectively.    

“The effects of the sub-prime and adjustable-rate mortgages can be seen in Washington State, and more specifically the Seattle area,” said Serdar Bankaci, President/CEO of Default Research.  “Couple that with a slow down in the housing market and those are your two main culprits for the increasing foreclosure rates in King, Pierce and Snohomish counties.”    

“While many families are facing foreclosure in the Seattle area, and our clients are using our leads to be the first to reach those people in need, Washington State as a whole is faring much better than several other states, such as California and Michigan.  Down the West coast, Los Angeles County in California has foreclosure numbers 13 times higher than that of King County, and the Detroit area in the hard hit Midwest has six times the foreclosure filings of the Seattle area.”       

For a full listing of the foreclosure statistics in the counties covered by Default Research in Washington State, please click on, www.newsletter.defaultresearch.com.  With an emphasis on educating people about the foreclosure crisis, the Default Research site also offers extensive foreclosure resources, links to free informational teleseminars and a link to their growing national monthly foreclosure education newsletter, The Homestand. 

Default Research is the national leader in foreclosure research. More information about Default Research can be found at its Web site: www.defaultresearch.com. 

Los Angeles County Sees Foreclosures Triple Over One Year    

Mt. Pleasant, PA – Default Research, the fastest growing foreclosure research company in the nation, is reporting that California foreclosure filings are up a dramatic 300 percent in August,  compared to the same time last year. 

According to Default Research (www.defaultresearch.com), Los Angeles County led the state with 6,040 foreclosure filings, which is up 2,047 from August 2006.  Riverside and San Bernardino followed L.A with 3,780 and 2,058 foreclosures respectively.     

“Unfortunately, much of California, like most of the United States, can’t avoid the foreclosure problems that were caused by the housing boom from 2001-2005,” said Serdar Bankaci, President/CEO of Default Research Inc.  “Many of the areas hardest hit by the foreclosure problems are not economically challenged areas.  California’s Sun Belt is a perfect example of that phenomenon, as the foreclosure crisis stretches from Riverside up the coast to Sacramento.”

“Using the National Association of Realtors® accurate statistics,  we can expect existing-home sales to continue to decline up and down the California coast in the coming months as mortgage disruptions work their way through the housing market.  Combining the increasing home inventories with the continued ARM adjustments, it looks as if the problems in California will not be going away anytime soon.”

 For a full listing of the foreclosure statistics in the counties covered by Default Research in California, please click on, www.newsletter.defaultresearch.com.  With an emphasis on educating people about the foreclosure crisis, the Default Research site also offers extensive foreclosure resources, links to free informational teleseminars and a link to their growing national monthly foreclosure education newsletter, The Homestand.   

Default Research is the national leader in foreclosure research. More information about Default Research can be found at its Web site: www.defaultresearch.com.