Mount Pleasant, PA, September 25, 2007 --(PR.com
)-- 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 adjust 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 would 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