Since the inception of Default Research, our goal with providing fresh leads has been to give our customers the distinct advantage of being the first to approach homeowners in foreclosure. While we have made major upgrades to our leads over the years, another new day has arrived at Default Research, and we are offering our clients a new distinct advantage! We are introducing top-notch advertising opportunities that are going to be geographic-specific. We are also going to begin national advertising campaigns on our web site, in our newsletter, and even the chance for our subscribers to reach our mailing list of 10,000+ people. That is right, we are going to be the best vehicle for our clients to target property buyers, property investors, and those interested in the foreclosure real estate industry.

This brings me to our already strong product that is getting even better; Default Research is now going to be tracking all trustee sales through the auction phase. We will monitor trustee sales on a daily basis, updating sales dates and bid amounts, which will provide a lucrative experience for our customers interested in purchasing at auction. And there is one more advantage for our customers: our market.defaultresearch.com statistical website is now complete with all counties and states. This will allow our visitors to look for trends and seek new opportunities!

I think by this time you get the point. At a time when businesses are going away and companies are cutting back what they offer their clients, we are going in the other direction! I urge you to take the time to read this newsletter to learn about our new advertising tools. Also read part two of our continuing series on foreclosure laws and educate yourself on lender laws. Please, take advantage!

S. Florida Foreclosures Increase Eight Percent In March 2009

Area Begins to See an Increase in Non-Residential Foreclosures

Default Research (http://www.defaultresearch.com), the premier provider of South Florida pre foreclosure listings, is reporting that in South Florida the number of mortgage related law suits filed increased from 7,557 in March 2008 to 8,156 in March 2009. More specifically, Miami-Dade and Palm Beach counties both saw increases of 15 percent and 25 percent respectively, while Broward County saw a decrease of approximately 10 percent. For more detailed South Florida area foreclosure statistics listed by county, please visitmarket.defaultresearch.com.

"Even though lis pendens remained unchanged in February and increased in March, real estate market indicators for the region are positive as home inventories continue to decline," said Serdar Bankaci, founder of Default Research. "We have seen steadily declining home inventories since October 2008 and, with median home prices dropping over 22 percent since March 2008, there are deals to be made in South Florida."

Bankaci points to one of his best indicators of the South Florida market; his clients, who are mortgage brokers, real estate brokers and other real estate professionals. Those trusted sources are reporting the most activity in two years in their region. One of the main reasons for the increased business is that buyers are finding it less expensive to buy then to rent. "With Federal Housing Administration (FHA) backed loans, homebuyers with good income history can purchase a home with only three percent down. Although a downturn in the economy can be construed as a negative, this is the time when deals can be made that benefit both sides," said Bankaci, whose daily pre foreclosure lists, which also include commercial properties, are e-mailed directly to real estate professionals in the region.

Bankaci also explained that Default Research saw its second straight month with increases in commercial properties. According to Bankaci, many retailers and business have either stopped expanding or are closing stores. In addition, commercial property owners are having a difficult time renewing or refinancing their commercial loans due to the credit crunch. The properties are causing the upswing in commercial foreclosures and also presenting excellent investment vehicles for the savvy investor.

Below is a unique and accurate local look at how the Default Research foreclosure statistics (March 2009) affect your area:

Broward County Foreclosures — Hardest hit cities are Miramar (289), Ft. Lauderdale (241), Hollywood (203), Pembroke Pines (201), and Coral Springs (177)

Miami-Dade County Foreclosures — Hardest hit cities are Miami (2790), Hialeah (500), Miami-Beach (148), Miami Gardens (119), and Cutler Bay (95)

Palm Beach County Foreclosures — Hardest hit cities are West Palm Beach (437), Lake Worth (214), Boca Raton (182), Boynton Beach (155) and Delray Beach (97)

Studies show people keep their attention on a given subject for about 15 seconds before their mind begins to wander. So...

Want an opportunity to reach the savvy and expanding Default Research client base? Remember -- our clients, like you, are willing to invest in their business and spend money when they see a solid product like the Default Research leads.

If you care about promoting your business to our clients, then that should have gotten your attention in 15 seconds flat. Click here for more information.

Loan Documentation Requirements

Whether purchasing or refinancing a home, there are many documents lenders require. The amount of documentation required varies by lender and, at times, can be very intimidating to someone unfamiliar with the process. This is especially true now as lenders increase their standards in light of the recent financial crisis

Documentation requirements are different for someone who is self-employed, and are usually more stringent. For the self-employed, you may be required to provide personal Federal Income Tax Returns including Schedules for the last two years. Business owners will need to provide Business Federal Income Tax Returns for the last two years. Profit and Loss Statements for the current year and 1099 Statements may also be required. For income verification you will need two of your most recent pay stubs as well as your most recent two years of W2s. It is also important to remember that your lender will need to verify your employment, so be prepared to provide your company's Human Resources Department contact information.

If you have rental property income, in addition to your Federal Income Tax Returns with Schedules, you may need to provide your lease agreements. Additionally, while the bank is not allowed to inquire if you receive child support, they can inquire if you pay it, and you may be required to supply your payment history.

For pension as well as social security income, you may be asked to provide two years of 1099s. The bank may also require documentation from your pension provider stating payment amount and frequency, and/or the most recent award letter with the dollar amount you will be receiving from your social security. If you have an annuity, the quarterly statement with account balance is usually adequate. You will also be required to protect your home with homeowner's insurance. Be sure to provide your agent's name, address, and phone and fax number to your lender.

Finally, you will be asked to provide two months of bank statements from checking/savings, any investment account statements, stock certificates, and statements for life insurance, but only if the life insurance has cash value.

What is the MOST IMPORTANT MOMENT in a real estate investor's life? It is the 30 to 60 minutes you are with a potential seller trying to get them to sell at a 20% to 50% discount to their homes value!

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

Wonder if this is possible? It is if you are totally prepared and have a well- done professional presentation during that critical moment.

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California Foreclosure Law Review

**This is Part Two of our continuing series on foreclosure law**

Due to the recent burst of the so-called housing bubble, and the subsequent economic crisis, foreclosure law in California has recently changed. Here we will focus on the primary method of foreclosure in California—Non judicial. The state of California passed a new law that imposes an additional delay on the filing of a Notice of Trustee Sale. This change applies only to loans originated from January 1, 2003 through December 31, 2007. This new law requires that the lender contact the borrower in default at least 30 days prior to initiating foreclosure proceedings in order to assess the borrower's financial condition and avoid foreclosure, if possible.

Regardless of whether or not your loan falls between the above mentioned dates, there are still certain rules that must be adhered to in a non-judicial foreclosure in California. On day one of this process, the Notice of Default is recorded. Within ten business days the Notice of Default must be mailed and published (when required). The next step required is that within one month the Notice of Default must be mailed to all junior lien holders and other parties. After three months the Notice of Trustee sale date is set. Once the date is set, the Notice of Trustee Sale date needs to be sent out 25 days before the actual sale date. Twenty days prior to the Trustee Sale Date, you may be required to notify the IRS. Next, within ten days from the first publication of the Notice of Sale, the Beneficiary must be sent a request for directions to the property. Fourteen days prior to the sale date, the Notice of Sale must be recorded. Seven days before the sale date, if it is a court action, the seven-day rule may apply before the sale can occur. Finally, five days before the Sale Date, the Right to Reinstate expires, and on the Sale Date, the property is sold at auction to the highest bidder at public auction.