How Loss Mitigation Companies Can Help You Grow Your Foreclosure Cleanup Business

Loss mitigators are on the frontline of the foreclosure cleanup crisis; they know

before anyone else (other than the homebuyer) that a property is in trouble and headed for possible foreclosure. They are on the phone with buyers daily who either ultimately come up with a successful solution to save their homes, or whose homes head into foreclosure or short sale scenarios.

In a foreclosure cleaning enterprise, your services may be wide and varied. As a new business, you can offer services from cleaning, debris removal, lawn work, gutter cleaning and pressure washing, interior cleaning, painting, winterizing, boarding doors and windows, changing locks, inspections, and so much more. The industry is wide open for new entrepreneurs ready to capitalize off this burgeoning industry that is not showing a slow down. The types of clients you can contact in this business range from REO managers, to REO realtors, landlords, investors, property managers, new foreclosure cleanup homebuyers, loss mitigation companies, banks, mortgage companies and more.

As a foreclosure cleanup business and real estate industry contractor, you should plan to send loss mitigators your contact info via email, postcard, introductory letter, etc. It's not unusual for banks and mortgage companies to give delinquent buyers financial incentive to move from the home (versus having to put them out); it's actually cheaper for banks and mortgage companies to use this tactic versus foreclosure.

Buyers will need junk removed, cleanup, etc., as they prepare to move and leave the house in good condition for the bank so they can get their monies. Loss mitigators can pass along your company's info to them. (Remember, an astronomical percentage of homebuyers are delinquent on their home loan payments to-date.)

Further, if a home goes into a short sale scenario (where the bank agrees to a lesser sales price for the home than the actual value), the home will eventually need cleanup, debris removal, repairs, painting lawn work, etc. Make sure your contact info is in the loss mitigator's rolodex for passing along to industry colleagues like short sale specialists, REO realtors and new short sale buyers.

Find an updated list of loss mitigation companies, prepare a phone script before you contact them, and then plan to saturate the market with your company information.

Many wishes of success in your foreclosure cleanup business and real estate contracting business.

by: Cassandra Black

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