Global Links Offers New Subscription REO Service.

Global Links Corp. has launched a new subscription website (www.R-E-info.net) designed to provide the mortgage industry with the most recent foreclosure and REO information.

"Our company is focused on real estate information," said Frank Dobrucki, chief executive officer for GLC. "I was a foreclosure trustee for 12 years. Having done about 4,000 foreclosures myself, I've found that the No. 1 thing people ask for is leads on foreclosures. They want the inside scoop."

GLC is banking on this desire to offer a site that is dedicated to providing the latest foreclosure and REO data on a national basis. "What I'm trying to do is redirect the industry to where the real opportunities are," noted Mr. Dobrucki. "Going forward, interest rates are going to go up and foreclosures are going to increase. A lot of people think foreclosures are the way to grab real estate, but I disagree.

"There are two types of properties, pre-foreclosure properties that are in the foreclosure process and post-foreclosure properties considered REO," he continued. "REOs - in my opinion - are the strongest way to buy real estate. If you think about it, if you bid on the property before seeing it you're taking a crapshoot and hoping you get a good deal.

"However, once the property goes into foreclosure, the bank gets it back as an REO," reported Mr. Dobrucki. "Now there's liability on the bank side when they sell it and they have a particular formula based on the principle that you can buy something for 20% less once they get it."

In creating this proprietary service, Mr. Dobrucki believes that he is serving a great purpose that will benefit the market. "The faster the REO market is re-absorbed, the stronger the banking and real estate markets get, which is why we're spotlighting the REO market," he pointed out. "We're trying to say, 'If you're a serious real estate investor and if you can ...