We just want to quickly remind our readers that our monthly real estate newsletter, “Investment Exchange” was just emailed out to those who have already signed up to receive it.

The May edition covers foreclosure investing riches — it was the final installment of a two-part series that went back to April 2008.

“Investment Exchange” is a FREE resource that Foreclosure.com provides its site visitors. Sign up to receive the educational real estate newsletter each month at no cost right here.

To check the May 2008 installment and all of the others click here.

We keep telling you: Foreclosure.com offers so much more than the top and most reliable foreclosure listings in the nation, as well as the educational resources to help you get rich with real estate.

In fact, our dynamic team also knows a thing or two about playing softball — our guys and gals (not pictured) recently took home the local league championship.

Success breeds success.

You asked for it and we listened … Foreclosure.com has made its industry-leading FREE email listing alerts even more convenient.

Not only have we consolidated all of the various property alerts into one email, but we redesigned the appearance of the email to include even more eye-catching, easy-to-use features.

Let’s back track for just a minute:

FREE email listing alerts, which include the latest foreclosure, preforeclosure, tax lien, bankruptcy and other distressed listing updates on our Web site, are conveniently delivered directly to your inbox.

In short, these notifications alert you to the latest property updates we list on our site in the precise zip codes that you pre-select.

There’s no obligation whatsoever to sign-up and receive FREE email listings alerts, which can be set up in literally just a few seconds thanks to our quick three-step process.

In real estate, timing is critical. Sometimes just one day — or even a few hours — can mean the difference between a huge profit and a missed opportunity.

And while our comprehensive nationwide database of more than 1.2 million listings is simple to search, we understand that it is sometimes hard to keep up with all the amazing bargains that we add to the site at least twice each day, including weekends and holidays.

Therefore, we want you to be the first one on the block to know about a hot property deal as soon as it is listed on Foreclosure.com.

Sign up to receive FREE email listing alerts today and let us do all the work — all you have to do is sit back check your email inbox from time-to-time for amazing real estate deals in your area.

It’s that simple.

ManagingREO.com — a Web site that delivers facts, trends and data to help asset managers increase their effectiveness with foreclosed property — featured the partnership between Foreclosure.com and IndyMac® Bank in a recent Web cast.

To check it out online via streaming video click here.

For more on the landmark agreement between America’s largest and most accurate source of distressed real estate listings (Foreclosure.com) and the seventh-largest savings and loan in the nation (IndyMac® Bank) click here.

Foreclosure.com today announced a partnership with Indymac Bank® — the seventh-largest savings and loan in the nation — to market and facilitate the sale of thousands of Real Estate Owned (REO) properties via the Internet, adding another major national lender to its growing stable of prominent data sources.

To read the entire press release click here.

Partnerships like this are what separates Foreclosure.com from other data providers — we get our listings from the very best sources … directly. It’s one of many reasons our listing information is accurate and the most reliable in the industry.

On the other hand, working with major lenders helps them market and sell their REO properties faster because of our massive audience. Each month, millions of interested homebuyers and investors search Foreclosure.com for the best deals in real estate.

Here’s a snip from Foreclosure.com Founder, President and CEO, Brad Geisen:

“More than 80 percent buyers now start their home searches on the Internet. Listing properties on our Web site is a fantastic solution for lenders to penetrate this huge buyer pool. We’re excited about our partnership with Indymac Bank® and are confident that the agreement will help reduce the number of REO listings on its books…. Our research indicates that only 17 percent of a traditional real estate marketing budget is spent online. That means sellers are spending 83 percent of their marketing dollars chasing only 20 percent of the buyers. Put simply, times are changing and the practices of lenders and others involved in the sale of real estate need to change along with it.”

To learn more about how to post REO listings on the Foreclosure.com Web site contact our Director of REO, Glen Daniels, at (561) 981-5337.

Foreclosure.com REO Director, Glen Daniels, was recently featured on the CNBC program, “Street Signs with Erin Burnett,” to discuss the national foreclosure situation and the fantastic real estate investment opportunities that are now available.

To watch the video segment click here.

When we made the initial announcement that Glen would appear on CNBC we also passed along information that he would be sharing his wealth of investment tips and strategies during an upcoming Foreclosure.com LIVE online Webinar presentation, “How to Rehab for Profit,” on Tuesday, October 30, 2007, at 4 p.m. ET.

To register for this information-packed real estate training session CLICK HERE. Remember that spaces are limited so act fast.

In addition, if you want to get a head start searching for great deals (homes 30 to 50 percent less than market value) that Foreclosure.com offers a FREE 7-Day Trial to its nationwide database of more than 1.2 million distressed real estate listings.

No strings attached!

Foreclosure.com inhouse real estate investment pro, Glen Daniels, has been asked to appear on the popular CNBC program called “Street Signs with Erin Burnett” today (October 5) at 2:30 p.m. ET.

Glen — who has more than 20 years of real estate experience — has been asked to provide his expert commentary in a segment dubbed, “Investing in Foreclosures.” That’s because right now there is no better time than now to get in on the distressed real estate market.

Put simply, home and REO prices are falling dramatically. And Glen is going to tell a massive national audience all about how to capitalize on it.

CNBC is the recognized world leader in business news, providing real-time financial market coverage and business information to more than 340 million homes worldwide, including more than 95 million households in the United States and Canada.

Check local listings to for the CNBC channel line up in your area. To view the complete segment with Glen right now click here.

Can’t catch the discussion with Foreclosure.com REO Director Glen Daniels on CNBC? There’s good news: He’ll be the featured presenter in an upcoming online real estate training session — “How to Rehab for Profit” — on Tuesday, October 30, 2007, at 4 p.m. ET.

To register for this information-packed Webinar CLICK HERE.

There are numerous foreclosure Web sites out on the Web. None of them, however, have a reputation for excellence and reporting responsible national foreclosure statistics like Foreclosure.com.

That’s because we’ve been at this since 1999. And even before we set up shop on the Internet, our executives such as President and CEO, Brad Geisen, had been successful in the foreclosure market for decades.

For today’s post, we want to pass along a little history on our company and related Web sites.

ForeclosureFreeSearch (www.ForeclosureFreeSearch.com) is the site that launched our successful business online back in 1999. In fact, this was among the first sites on the Web to provide online listings of foreclosures for sale.

Our founder, Brad Geisen — an accomplished real estate broker/investor — understood the value of putting foreclosure listings online for people to search for free. Brokers in turn would pay for the sellers leads.

ForeclosureFreeSearch.com quickly became a popular Web site. However, we did not see any significant returns as for one reason or another on the business side of things. Perhaps, the connect between site visitors and the brokers lost us in the mix.

As a result, we decided to switch to a monthly subscription model and continued on that path.

Over time, we started up the Web site Foreclosure.com because the foreclosure free search model wasn’t really where we knew it needed to be.

ForeclosureFreeSearch.com still exists and is an integral part of our business, but now Foreclosure.com is our main flagship and we try to provide all of the most up to date products on the Web site. This includes even more accurate foreclosure listings.

Today, our business has grown in to tax liens (www.taxliens.com), preforeclosures (www.preforeclosure.com) and FSBO Homes (www.forsaleownerhomes.com).

Together, all of these sites provide the best distressed real estate opportunities on the Web and represent tremendous investment opportunities.

Check them all out when you have some time!

Location and real estate go together like peas and carrots.

Cliche? Without a doubt.

But there’s a reason that the phrase “Location, location, location” is has such a familiar ring to it — because it is true. Buyers who have the foresight to capitalize on real estate opportunities in desirable areas early often enjoy the financial rewards sooner rather than later.

Sure, numerous buyers often step in … er, get lucky when it comes to finding hot locations. Sometimes there’s just no telling that a neighborhood or town is on the verge of resurgence before it’s too late. However, it’s sometimes simple to manufacture good fortune rather than just crossing your fingers and hoping for the best.

For example, the American Association of Retired Persons (AARP) recently released its, “5 Great Places to Live” in the United States. This is a practical list that takes into consideration culture, work options, mass transit, fitness opportunities, and more — it’s not just a list of ideal destinations for retirees.

Indeed, the article attempts to find the locations that appeal to buyers at all stages of life, from “young families to active retirees, and everyone in between — so that older residents (and there are increasing numbers of them as boomers reach retirement age) are not a drain on a community’s resources but are an asset to them.”

So what does that mean for you as an investor?

The short answer is research locations that appeal to the largest buyer pool possible, particularly areas and neighborhoods that cater to young professionals and senior citizens alike.

This will more than likely ensure that your investment remains equitable (and perhaps appreciates over time), possessing strong resale value.

Here are the AARP top five spots:

• Atlanta, Georgia
• Portland, Oregon
• Chandler, Arizona
• Boston, Massachusetts
• Milwaukee, Wisconsin

To find distressed properties in these locations remember to check out Foreclosure.com for the best deals in real estate. We update our comprehensive database of more than 1.2 million listings at least twice each day.

And, it’s as easy as pie to search!

Foreclosure Tip: Search for local real estate agents – REO pros – who specialize in the foreclosure market.

The reason: Purchasing an REO is typically not as clear-cut as purchasing a home in the traditional sense. If a you are looking for a real estate “deal” then you should use a real estate broker who knows the ins-and-outs of foreclosure properties. In fact, REO agents often offer a team of skilled inspectors and repairmen who can help you spot and ward off trouble before you sign on the dotted line.

“REO” defined: When a lender takes ownership of a property as a result of the foreclosure process, the lender then calls the property an REO, which stands for “Real Estate Owned.”

To keep investors and future homeowners up-to-date on the latest real estate news, Foreclosure.com features an Article Center that we update each day. These articles are also archived in the left sidebar for your convenience.

Bob Bruss — who is widely known as the “Dear Abby” of real estate — is often featured in this section. He leverages more than 23 years of experience in the industry to provide readers with usable information.

And a recent article on “10 things investors should look for in fixer-uppers” is certainly no exception. It’s a simple approach on how to profit in today’s real estate market with homes that need a little “TLC.”

Whether you call them “fixer uppers” or “handyman specials,” there are not too many other businesses other than flipping real estate that can generate a similar return on investment in such a short timeframe.

Consider the following:

1. Basically sound condition without major structural defects
2. Good location with a low crime rate
3. Good-quality school district
4. Need for profitable cosmetic fix-up work, but not major unprofitable repairs
5. Purchase price at least 30 percent below the market value of nearby comparable homes in good condition
6. Purchase from a motivated seller who is anxious to sell
7. Affordable low-down-payment financing
8. Seller or tenant will vacate immediately upon transfer of title
9. Within a 60-minute drive from your current residence
10. Good demand from renters and/or buyers

To read the entire article check out InmanNews.com (subscription required).

Now, the quick steps mentioned above are not going to turn you into a pro overnight. But, use them as a guide as you research potential investment properties on Foreclosure.com.

The best general advice we can offer on this topic is to go after houses that are located in nice neighborhoods and only need minimal amounts of work.

That’s because just some minor touch-ups and cosmetic work such as painting and new carpets can go a long way when it comes to turning a nice profit on a home.

In short, look to purchase the ugliest house on the prettiest block. Don’t be scared off by houses that look and smell terrible. These are often easy — and cheap — fixes.

Happy house hunting!

Get the inside scoop on a hidden real estate investing technique, foreclosure short sales, and learn to purchase properties for HALF PRICE as soon as this week!

During a 90-minute Foreclosure.com interactive online Webinar, one of America’s foremost experts on the topic, millionaire James Gage, will reveal his proven insider tricks so you can put learn how to negotiate lucrative real estate deals.

Here are just some of the tips you will learn:

• How to find amazing deals right in your backyard
• Who to call when you spot these amazing deals
• What to say to negotiate up to 50% discounts
• What to offer throughout the negotiation process
• How to frame the offer so you save BIG

This presentation takes place later this week on Thursday, July 26 at 9 p.m. ET/6 p.m. PT.

Foreclosure.com Webinars are live 90-minute educational sessions, meaning participants are able to see, hear and interact with experts right from their personal computer screens. In fact, Webinars are driven in part by visitor feedback and questions that are posed during the sessions.

How do you tune in?

It’s simple … just click here and follow the brief registration instructions.

Seats are limited; therefore, if you want to learn about an awesome opportunity to earn incredible profits in real estate RIGHT NOW , then the “Foreclosure Secrets” Webinar will help you get on the path to success with short sales.

That’s not all.

As a special thank you to those who register for the Webinar, James has graciously agreed to give all attendees a “must-sign” document that will protect all investors in foreclosure/short sale investments.

This document, which retails for $199, will save you thousands on potential legal fees during the negotiation process.

Reserve your seat today before it’s too late!

Foreclosure.com will launch its first FREE Webinar tomorrow, “Foreclosure.com 101,” which will feature an extensive tour of the Web site, providing exclusive search tips and advice that will help participants locate hot property deals.

In addition, an experienced foreclosure investment pro will be on hand to share his thoughts on how to best apply the information gathered to create real-life, money-making situations in real estate.

“We’re excited to connect our visitors with well-known experts who know what it takes to achieve success in the real estate market,” said Linda Yates, Director of Education, Foreclosure.com in a recent press release announcing the Webinar program. “For years, we’ve always had the freshest and most reliable data. Now, we’re combining that with exceptional training opportunities, bringing together the best of both worlds.”

To register for the FREE “Foreclosure.com 101” Webinar right now click here. It will begin promptly on Tuesday, July 17 at 4 p.m. ET/1 p.m. PT.

These 90-minute online video sessions are live, meaning that participants are able to see, hear and interact with the experts right from their personal computer screens. In fact, our educational real estate training Webinars are driven in part by visitor feedback and questions that are posed during the sessions.

So register now before it’s too late! “Foreclosure.com 101” is FREE … seats are going fast.

For more information on additional upcoming Webinar course offerings, including shorts sales with Jim Gage, click here.

The preforeclosure stage is a time when a homeowner is behind on his or her mortgage and the lender has filed an official Notice of Default (NOD) or Lis Pendens (LIS) to recoup the payments.

This will often lead to foreclosure if the homeowner cannot come up with the cash or negotiate a deal with the lender to remain in the home.

Rather than face eviction and endure personal credit turmoil, a distressed homeowner in preforeclosure will often look to sell the property as soon as possible and use the proceeds to pay off outstanding debts with the lender and relocate.

It’s an unfortunate situation — one that is outside the control of anyone but the homeowner and lender. However, working with a homeowner to resolve the matter before foreclosure is one way to help and provide him or her with much-needed relief.

It can also translate into huge savings because preforeclosure investing gives you the most options and highest percentage of profit.

Here’s a tip to get you started:

When working preforeclosures, the earlier you make contact with the homeowners, the more options you have to capitalize on great deals.

How do you do that?

First, you need to identify homeowners in your area who are in preforeclosure. This can be accomplished at no cost or obligation using our FREE 7-Day Trial.

With a solid set of leads it is then smart to drive into the neighborhoods and canvas the homes from the curb to determine which are the most desirable.

The next step is to communicate with the homeowner. This can be done in a few different ways, and we recommend that you try multiple approaches to ensure that you get noticed by the homeowner.

Here are a few quick methods to contact a homeowner in preforeclosure:

• Letters
• Post cards
• Contact the homeowner’s attorney
• Direct purchase
• Short sale
• Mortgage purchase

We expand on each of these strategies in our e-Book entitled “Cash-in on the Foreclosure Process: How to buy a Foreclosure.”

This educational resource is packed with tips and advice that is required reading if you plan to get started investing in distressed real estate.

Best of all, we’ll email it to you at no cost with our FREE 7-Day Trial.

Foreclosure.com is proud to introduce our monthly educational newsletter, Investment Exchange, which is designed to keep you up-to-date on the latest real estate news, flip tips, industry trends and more.

In our premier edition (June 2007) we share extensive insight on the “Art of the Short Sale” — a relatively unknown investment strategy that can save you tens of thousands of dollars on your next home purchase.

With a short sale, a buyer purchases a property in foreclosure for less than what the seller currently owes the lender. It’s an incredible tactic that investors have used for years to make money in real estate.

And we’ve decided to tell you all about it.

To read more about short sales — and to sign up for our FREE real estate newsletter — click here. There is no obligation or “strings attached” with the email newsletter, which will feature a fresh, interesting and different topic each month.

Investment Exchange is one more resource we have established to help you get and stay up to speed with the red hot real estate investment market. From property search advice to secret flip tips to market updates, we give you the tools you need to be successful.

Indeed, we offer much more than just the biggest and best foreclosure listings database.

So sign up today for Investment Exchange — it’s quick, easy and, best of all, free. There’s no telling what you might learn … that’s the reason you can’t miss a month.

New Mexico is the latest state to implement a free foreclosure hotline for residents who are in danger of losing their homes, according to KRQE.com.

The Association of Community Organizations for Reform Now (ACORN) — the largest community organization of low and moderate income families in the United States — is spearheading the initiative.

With more than 1,700 active foreclosures in 2006 (according to Foreclosure.com) — and bad subprime mortgage loans possibly exacerbating the situation — ACORN wants to ensure that families in New Mexico get all the necessary help to save their homes from bank repossession.

Here’s a snip from an ACORN spokesperson:

“We have home-loan counselors. They will sit and talk with you about your mortgage, what you can pay, what is reasonable for you to pay and still maintain your other bills, feed your family…. They will go represent you to the lender and say this is what we have, this is what we can do, will you work with us?”

New Mexico homeowners facing foreclosure should take advantage of this resource as soon as possible … it’s FREE foreclosure assistance.

Contact a counselor toll-free at the New Mexico foreclosure hotline at 866-67-ACORN (866-672-2676).

Research from the Joint Center for Housing Studies at Harvard University — via Coloradoan.com — offers two more important reasons to stop foreclosures and to keep families in their homes.

In no particular order:

1. Homeowners typically enjoy stronger family and neighborhood stability.
2. Children perform better in school and are more likely to participate in civic activities.

While these points seem obvious, it’s not uncommon for them to be overlooked. That’s because “bad credit” and other financial problems often take center stage early on in the foreclosure process.

Without a doubt, foreclosures devastate more than just personal bank accounts and credit reports — they affect countless families and neighborhoods nationwide now and in the future.

Fortunately, foreclosure assistance and advice is usually only a few phone calls away. Don’t be afraid to reach out to local agencies or non-profit housing organizations in the area for help as soon as possible.

It’s often a simple solution to a much larger and profound problem.

“Real estate analysts say South Florida’s housing market peaked late in 2005, and would-be flippers stopped buying in 2006. People who bought condos before 2005 might still make money or at least break even if they sell soon, the analysts say, but those who bought at the height of the mania [the speculative craze of 2004 and 2005] stand to lose a bundle … some are figuring out how to profit from the downturn … people [are often] willing to resell preconstruction units at their original price.”

– A feature in today’s New York Times explores the speculative real estate market in South Florida, which is beginning to cool after a significant boom these last few years. In fact, investors who purchased homes and condos during preconstruction phases are looking for ways to get out of their contracts or are walking away from their deposits. To stay on top of the growing real estate listings and deals in South Florida click here.

Legislation was introduced today in New Jersey that would create stricter requirements for mortgage solicitors in an attempt to reduce the growing number of foreclosures, according to the Herald News.

Currently in the Garden State mortgage solicitors — who are also known as loan officers or originators — need to fill-out a one-page form and fork over about $100 to issue loans on behalf of New Jersey lenders.

It’s not much in terms of applicant due diligence, considering families often plunk down hundreds of thousands to realize their dreams of homeownership.

And that’s the reason Trenton politicians and two state mortgage associations are throwing their support behind this bill.

Here’s a snip:

“… [the] legislation today that would require training, licensing exams and criminal background checks for loan officers. While mortgage-company owners must follow certain regulations, few of their employees do…. Many experts think the profitable commissions and low-education requirements for loan officers help contribute to skyrocketing foreclosure rates — as homeowners are pushed into mortgages they can’t afford.

Housing advocates stress that licensing requirements aren’t a magic bullet. Pending legislation in Congress and some state legislatures could do more to clean up the mortgage industry, they say, by holding lenders responsible for a borrower’s best interest.

According to the clip, as the housing market boomed over the last several years, the ranks of unregulated loan officers increased and flocked to the subprime market because these loans translate into big commissions.

In these cases, it appears that the mortgage servicers are looking out for their own interests rather than the homebuyers.

The moral of the story: Find a loan officer with a solid track record — one who comes highly recommended. Ask friends, family members Realtors® — anyone who has experience buying homes — about a trustworthy mortgage servicer.

It will pay off in the long-run … literally.

With about 4,743 active foreclosures on its books in March 2007, Colorado is near the top of the national list when it comes to homeowners defaulting on their mortgages.

To help distressed homeowners in the Centennial State keep their homes, the Colorado Division of Housing established a foreclosure hotline in December 2006 that offers free advice and counseling.

And, according to a recent article from the Denver Business Journal, “at least four out of five people who have called [the hotline] over the past five months have avoided foreclosure.

Here’s a snip:

“Specifically, 7 percent of callers who received counseling later lost their homes to foreclosure. Another 12 percent may have lost their homes, but this group includes people in bankruptcy, people who could not later be located, and people who later chose to work with for-profit foreclosure consultants, officials said.

Twenty-two percent of callers sold their home before foreclosure, 15 percent initiated a repayment plan, 13 percent modified their mortgage, 6 percent brought their mortgage current and 5 percent deeded the property to the lender.”

The Colorado foreclosure hotline, which connects nonprofit counseling agencies across Colorado to callers trying to avoid foreclosure, can be reached at 1-877-601-HOPE.

With more than 91,000 New Yorkers in danger of losing their homes to foreclosure by the end of 2008, Sen. Charles Schumer (D-N.Y.) is looking to put an end to the subprime loans that are causing the problems, according to a recent article on NYDailyNews.com.

In fact, an analysis by his office revealed that an estimated 1.8 million American families — including nearly 23,000 in New York City and 19,000 in Nassau and Suffolk counties — could face foreclosure within the next two years when their subprime loan rates increase.

Here’s a snip from Chuck:

“For thousands, the American dream of homeownership has turned into an un-American nightmare. Thousands of middle-income and lower-income New Yorkers were tricked into borrowing these loans, and they are loans designed to fail. The first step is making sure that borrowers are protected from these usurious lenders. It’s long past time that we ensure that American families are protected from loans that promise them the world and then bury them in debt.”

To address the problem, Schumer recommends a response on the federal level that includes:

• establishing a national regulatory system to target “rogue” mortgage lenders and brokers;
• eliminating “liar loans” by creating a suitability standard for borrowers;
• prohibiting prepayment penalties, stated-income loans and “pick a payment” gimmicks that coerce borrowers into signing higher loans than they cannot afford; and
• creating a state foreclosure prevention task force.

It’s important to note that bad loans are not the only factors that contribute to foreclosure increases. Illness, divorce, job loss and other personal issues often affect distressed homeowners and cause them to fall behind on mortgage payments.

Furthermore, not all subprime loans result in foreclosure.

Therefore, it’ll be interesting to see how the interests of homebuyers and lenders are both represented if and when tighter restrictions are implemented.

Stay tuned.

Carol Gilbert from the Goldseker Foundation has some great advice for distressed homeowners in Maryland — anywhere for that matter — in an article today in the Los Angeles Times.

Here’s a quote:

“Borrowers may think that they are delaying foreclosure by not calling the lender - the opposite is true. The longer a borrower waits, the faster foreclosure will proceed and the fewer options there are to slow or reverse it from happening.

Too often, homeowners who default on their mortgages wait until the last minute to seek foreclosure assistance. It’s a decision that in the long run comes back to haunt them.

In most cases, lenders, states and nonprofit organizations have programs in place that can stop foreclosure. That’s because no one — aside from opportunistic investors — ever really wins in foreclosure situations.

According to the article, one of the first steps to take is contacting a housing counselor. Reaching out to the lender to discuss possible options is also an important initial step.

The article offers a few resources for Maryland residents, including:

• Dial 311 (in Baltimore) to be connected to a free counselor at a HUD-approved nonprofit
• Call 888-995-HOPE (4673).
• Visit the St. Ambrose Housing Aid Center ((410) 366-8550) for free counseling

Whether it’s refinancing, deferring payments or relocating, options abound when it comes to avoiding bank repossession.

Inaction, however, should not be one of them.

Foreclosures in Detroit, Michigan — primarily in Wayne County — are consistently among the tops in the nation.

It’s a slice of the real estate market that did not experience the highs of the real estate boom during the last few years, which is perhaps the reason distressed homes in the Motor City are now selling for less than cars, according to a recent Reuters article on FOXNews.com.

Here’s a snip:

“With bidding stalled on some of the least desirable residences in Detroit’s collapsing housing market, even the fast-talking auctioneer was feeling the stress.

‘Folks, the ground underneath the house goes with it. You do know that, right?’ he offered.

After selling house after house in the Motor City for less than the $29,000 it costs to buy the average new car, the auctioneer tried a new line: ‘The lumber in the house is worth more than that!’

Clearly, the foreclosure situation is bad news for affected homeowners. However, it also represents tremendous opportunities for investors to swoop in and purchase properties at rock bottom prices.

Not all properties, however, come dirt cheap. In fact, Mayor Kwame Kilpatrick recently announced that two condominiums in the city’s revitalizing downtown sold for more than $1 million each.

The key to success in a reeling city like Detroit, where the only way to go is up, is being able to weather the storm and hold onto the property long enough to realize a profit.

It could be months or years. Regardless, it’s a decision that could pay huge dividends if and when the situation sorts itself out down the line.

Bad — or unaffordable — home loans are no longer affecting unfortunate homeowners and lenders.

As the trend of more homeowners defaulting on their mortgages continues to increase, stock market investors are growing concerned with a possible “crisis in regard to subprime loans, according to U.S. News & World Report.

In fact, the Dow Jones industrial average tumbled more than 100 points yesterday, underscoring the impact the situation could have on the broader economy.

Here’s a snip:

“It’s stomach-turning time on Wall Street again. After plummeting more than 242 points Tuesday–and 416 points on February 27–the market began another downward march Wednesday on growing fears that the troubles in the subprime mortgage sector are turning into a full-blown financial crisis. And if there’s anything that Wall Street hates, it’s an unexpected crisis with unknown consequences.”

According to the article, an across-the-board rise in defaults and foreclosures means two things:

1. Consumers stop spending
2. Home prices could dip

And, according Merrill Lynch economist David Rosenberg, tightening lending standards might not be the silver-bullet solution.

Here’s a snip:

“Our biggest concern is that any tightening of lending standards in the mortgage market — even if confined to lower-quality borrowers — is going to constrain overall housing demand and make it more difficult for home sales and prices to stage a recovery.

We’ll continue to provide updates on this evolving issue … stay tuned.

Having problems logging in? Don’t understand a listing? Need help locating something on our Web site?

At Foreclosure.com, our onsite customer service department is always standing by to answer your questions. In fact, our knowledgeable and courteous customer support staff members each log more than 40 hours per week, Monday through Friday, 8:30 am to 5:30 pm EST, right here in our corporate offices, diligently answering all your calls and emails.

And, if you have an issue outside of regular business hours, don’t hesitate to leave us a message.

Andy, our long-time customer service manager, always ensures that someone from the Foreclosure.com teams responds to your message in a timely manner.

Put simply, we respond to every single inquiry — 100 percent of them! We’re even in the process of ensuring that we have around-the-clock coverage, meaning that you can talk to a human — not some voice operated system or robot — at anytime day or night.

Talk about refreshing.

Of course, you may never need to contact our customer service department. But if you do, we are serious about providing the best possible user experience, and offering top-notch customer support is an important part of the overall goal.

So, feel free to give us a call at (561) 981-5337 or send us an email. Or, don’t forget, our “Live Chat feature allows you to chat online in real-time with one of our customer service superstars, Scott.

Great customer support: It’s just another reason Foreclosure.com is the place to search for the best deals in real estate.

With foreclosures rising and regulators eyeing subprime loans as the primary cause, mortgage brokers are calling for an independent government inquiry to determine all the factors contributing to the problem, according to InmanNews.com (subscription required).

Here’s a snip from Joseph Falk, a longtime south Florida broker:

“Before you rush to the judgment that brokers are placing consumers in bad loans and before we impose ’suitability’ standards, we have to know the cause of problem. Although the consumer advocates blame industry for inappropriate activity, it’s time to study and see (the real) causal factors.”

According to the article, it is widely predicted that as many as 20 percent of all subprime loans funded over the past two years will wind up in foreclosure.

It’s a huge problem that lawmakers and regulators are looking to solve.

If loan requirements are tightened, it would “force lenders to ask more questions and make more disclosures, factoring in such eventualities as tax consequences, income forecasts, the borrower’s resale plans, and whether their debt loads are likely to increase.

Whichever path is taken, this is an issue that needs to be resolved as soon as possible to ensure that more homeowners don’t fall into foreclosure.

We’ll continue to monitor this situation as it happens.

When a homeowner falls behind on mortgage payments, the reality of a looming foreclosure filing and bank repossession can cause fear and desperation.

During these trying times, it’s not uncommon for some homeowners to make poor, uninformed decisions and fall victim to foreclosure rescue scams.

Unfortunately, once homeowners are in default and foreclosure proceedings begin it becomes a matter of public record. Armed with this information, crooks often approach these distressed homeowners with bogus or misleading “assistance that eventually make bad situations worse.

The Boston Herald recently highlighted such a scheme, which is “ripping through Boston’s poorest neighborhoods.

Here’s a snip:

“… a cottage industry of shady small-time speculators has sprung up to target these struggling homeowners…. One popular tactic: persuading a beleaguered homeowner faced with foreclosure to “temporarily sign over his home in exchange for financial assistance. You can guess the rest. Another ploy: offering to make some phone calls - to pull a few strings - on behalf of the homeowner with the lender. Of course, all that is needed is a few thousand dollars up front.

Fortunately, the new scam has caught the attention of the Attorney General, according to the article. And, the office has brought two rescue scammers to court and is exploring additional cases.

The Massachusetts example detailed above represents a small slice of this nationwide problem. With the increase in foreclosures across the board, state governments and local authorities are finding it harder and harder to crackdown on each and every rescue scam.

It’s critical that homeowners don’t fall into this trap. Therefore, anyone who sends fliers via mail or knocks on front doors talking about quick and harmless bailout offers should be considered suspicious.

And, always remember that viable resources and options do exist to avoid foreclosure. For starters, fill out this form to speak with a reliable professional.

Most important, however, is to remain as level-headed and as cool as possible.

Good help is out there … it’s just a matter of finding it before bad help finds you.

Last week, the Colorado Division of Housing uncovered potential flaws with national foreclosure data that was reported by RealtyTrac.com, highlighting a problem that has been flying under the radar for the past few years.

According to reports from the North Colorado Business Report and the Rocky Mountain News, RealtyTrac.com in some cases is triple counting foreclosures in the state. It is the primary reason the company incorrectly labeled Colorado with the dubious distinction of being the top state for foreclosures for nine of the past 13 months.

In fairness, Colorado uses a unique system to track its foreclosures.

Here’s a snip from a report contained within the Rocky Mountain News article:

“The Public Trustee data indicates that foreclosure numbers have been exaggerated by some organizations providing foreclosure data on the state. For example, RealtyTrac has provided widely reported foreclosure data stating that in 2006, Colorado experienced 54,747 foreclosures and had a total foreclosure rate of 1 in 33 households. If this is the case, Colorado has experienced an 85 percent increase in foreclosures since 2005, and a large number of counties would be experiencing foreclosure rates worse than 1 in 33 households.�?

It’s important to note that RealtyTrac — one of the more reliable data providers on the Web — is not alone in its miscalculations. In fact, the real estate industry is awash in statistics, making it difficult to discern fact from fiction, right from wrong.

In October 2006, Foreclosure.com made a strategic decision to not release monthly foreclosure statistics. Even though we maintain the most accurate nationwide database — a statement supported by prestigious media outlets such as the Wall Street Journal and esteemed organizations such as the Mortgage Bankers Association — we found it unnecessary to compete with the gaggle of so-called online data providers that crop up all the time.

And, it often put our credibility on the line when it was clear to us and anyone who took the time to look that our numbers best reflected the true foreclosure conditions on the ground.

Put simply, we’ve been at this for more than a decade. In fact, we pioneered the practice of releasing monthly foreclosure numbers even before the Internet became such a monster.

Foreclosure.com published numbers as a courtesy to the industry and press at large. Now that the media is saturated with wild and unsubstantiated numbers — “doom and gloom, the sky is falling�? sells — more than ever before, it validates our decision to take a step back and re-evaluate how to proceed going forward.

Fortunately, the media and local governments have started to scrutinize foreclosure numbers rather than accept them at face value.

We are confident that if more organizations take the time to analyze foreclosure data from online real estate companies, it will soon become clear that Colorado is not and isolated incident — the problem is more widespread.

Proceed with caution.

HomeGain.com — a leading provider of online marketing solutions for real estate agents — announced today that it relaunched HomeScout.com, which the company originally acquired back in 2001.

According to a recent press release, the new launch adds instant home values, recent home sales and several real estate listings databases to HomeScout.com.

One of those databases contains foreclosures. And, with the most accurate and up-to-date foreclosure database in the nation, Foreclosure.com is proud to announce that we will provide the listings for HomeScout.com.

Here’s a snip from Jeff Miller, Director of Advertising Products and Sales for HomeGain:

“We have compiled a comprehensive set of real estate listings from multiple partners and sources. Combining HomeGain real estate listings with homes for sale from other top real estate sites creates a more compelling offer for consumers. HomeScout.com makes finding homes for sale on the Internet easier. It also provides additional reach and more highly qualified traffic for subscribing HomeGain real estate agents and partners.