Foreclosure Crisis Short Sale
starting a foreclosure cleaning business

With the many foreclosed homes for sale you are probably thinking that starting a foreclosure cleaning business is going to be a no brainer with just having plenty of jobs drop right into your lap, well this may not be the case since many will find that they need to be well established with the proper licensures

as well as the needed equipment and staff to get the work done on a timeline, yes banks want these foreclosure properties handled on a deadline, you will probably have a better time looking at home development managers as well as asset managers, real estate agents and investment brokers can probably tell you the best places to find property managers who will need to have commercial property as well as residential property worked on and cleaned out. Not everyone who buys banked owned properties will know how to maintain and keep up the lawn or pools.

If you are investing in real estate property that is located out of state it will also cause you a deal of concern and the need for a local cleaning business who can handle all the day to day contracts and activities of hauling the trash and fixing any broken doors or windows. One of the best businesses to start in this down economy some would say is the ones who can go and clean.

Window cleaning is a business that has been around awhile and most who run these types of services work for themselves and they usually provide window cleaning for corporations and commercial type buildings, if you are presently in this type of business you may want to look at helping with cleaning windows of foreclosed property.

Other types of businesses include

  • pressure washing which requires that you use a high pressure water hose on the buildings that have become dirty and
  • this is the best way to get a fresh looking paint job on a house that has been left unattended for a number of years, if you currently are providing this type of service you will want to also offer this to those who will be starting a foreclosure cleaning business.
  • In home maid services are now adding foreclosure cleaning to their list of jobs which before used to only include family homes of parents and elderly who did not have time or where unable to clean, so this added revenue stream will help anyone who is operating a home cleaning maid service as well.
What are the types of cleaning services for those who are cleaning foreclosures for a living?

If you are starting a business cleaning foreclosures you will need to know that you can offer a variety of cleaning services some of the more popular ones are hauling away debris and trash while others are just to clean out the homes that have been left vacant others would rather do the in home repair of the plumbing or the kitchen appliances,

if you are a contractor you will be familiar with all the exterior and interior work that will need to be done on the banked owned homes, HUD foreclosures as well as the abandoned homes left by rental property managers who have gone into foreclosure due to not being able to make the mortgage, there are alot of contractors and subcontractors that can help you out with the work so that you do not have to do all the cleaning, painting, repairs, landscaping on your own.


Cleaning out foreclosed homes with  Mortgage Foreclosure  Investments

Some things you need to know before you get your home ready for a fast short sale is that as a homeowner you have options, one being short sale to avoid foreclosure. To avoid having a home repossessed by the lender, some thing to consider if you obtained an adjustable rate mortgage with an unaffordable monthly payment due to high adjusting interest rates, distressed homeowners can choose to accept less money than it is owed on the loan secured by the house.

A real estate short sale allows the homeowner to sell their home when values are declining and investment properties are growing, so to prepare your home for the sale you can do some needed evaluating on the emotional attachment owning a home has in your life, you will need to let go and realize that its time to move on with your family.

Many home interior designers and home stagers will tell you that your personal belongings need to be removed so they can make the space look more appealing to potential buyers, this can be hard and if you are not careful you could jeopardize a sale if you do not follow some home designers suggestions.

Cleaning Repo homes

Getting rid of unnecessary clutter will make your life easier when it comes time to move, so start now packing up areas that have accumulated stuff over the years, a clutter free space will be more appealing to home buyers, adding space and giving an appearance of cleanliness when they come to look at the house.

In todays market, home buyers are looking for a deal, so even if your home is a short sale and going for less than what is owed you may have to decrease the price even more to compete in a buyers market. It can be hard to see the value of your home be whittled down to nothing right before your eyes but remember you are trying to avoid foreclosure.

Other key issues include taking care of odors and smells in the home caused by smoking, pet odor cooking odors accumulated in the carpet, drapes and furniture. Deodorize the home by shampooing the carpet or replacing old couches, as well as getting rid of cat boxes.

Home staging to sell your house
Questions to ask before a short sale

 A short sale is not always a smooth process because the bank that holds the mortgage is agreeing to take less for the home than what is owed to avoid foreclosure what this means for you is that in order to get approved for a short sale it may take longer than expected.

How will you know if your home will get approved for a short sale?

The number of mortgages that exist on the propery as well as liens, for instance child support, tax or water bills can slow up the process, does the home have a home owners association fee that is current? will the number of offers, if too many you will have to wait for the agent to pick one offer and at least one back up offer, if your home is an investment property or you are going through bankruptcy you will not be able to have a quick short sale.  Hardships such as illness, divorce or job loss may be a determining factor when the bank looks at your home to approve it for a short sale.


Loan Workouts to Stop Foreclosure

You may not have to walk away from your home

Foreclosure help is available to those who want to stay in their homes and avoid foreclosure in such a case what you can do is setup payment arrangements with your lender and try to work out a best mortgage modification government program setup to help homeowners stop foreclosure by making your mortgage monthly payments more affordable, decreasing your chances of being underwater. Finding a bad credit mortgage lender may help you with your finances and budget to help you as a borrower even if you owe more than the property is actually worth.

The foreclosure diversion program in Maine is a mediator between lenders and homeowners, what makes it a success is that it is supervised by the court process and an attorney instead of a real estate broker when it comes to re-negotiating your home loan, the key is to ask questions and get answers in order to get the help you need. Even if you are unemployed you can still get loan modification help, how it works is Obama's administration making homes affordable program  also known as Homeowners Affordability and Stability Plan that helps homeowners who have lost their jobs. Some documents you will need to show you qualify for this program is first your unemployment benefits along with tax returns, monthly bills, and bank statements.

Homeowners Preservation Resources
  • U.S. Department of Housing and Urban Development (HUD)
    Foreclosure Avoidance Counseling, HUD-approved housing counseling agencies are available to provide you with the information and assistance you need to avoid foreclosure. As part of President Obama's comprehensive Homeowner Affordability and Stabilit
  • Making Home Affordable - Home
    Learn About Making Home Affordable, Modification Help Many homeowners are struggling to make their monthly mortgage payments perhaps because their interest rate has increased or they have less income.

Foreclosure Advice for Homeowners without Money, Equity and Bad Credit
What are your Foreclosure Options?

As foreclosures continue to increase the amount of homeowners who are in debt will rise also. Lost equity in their homes as well as financial hardships due to lost jobs may have some wondering what they can do. The following article will talk about your options, should you stay in your home or should you lose your home to foreclosure?

Its time to take a hard look at your situation, mortgage modification may not be something that you qualify for, as well as having bad credit could mean that you are unable to get a loan, and if you can not refinance then you will need to consider letting your home go and start over in a smaller home, RV, apartment or manufactured home, until you are able to get back on your feet.

The process of HUD assistance as well as refinancing home loans is that it takes time and as the news has mentioned the next few years is going to see a slowing down of a system that was put into place to help homeowners and is now unable to deliver what has been promised. Foreclosure prevention counseling services are nonprofit housing counseling agencies working with the federal government, so you should take advantage of these free resources made available by HUD and NeighborWorks America to avoid getting misinformation.

One thing to remember is that you want to be aware of foreclosure scams out on the web or in your mailbox, you want to do your research and only deal with certified HUD counselors that are qualified in debt counseling and workout loan mortgage servicers that are effective foreclosure counselors in a approved HUD foreclosure assistance center.

The Home Affordable Refinance/Modification Program

Whats next for home foreclosures?

The situation gets worse by the minute, prime mortgages that are overdue at 60 days or more has doubled and with out more jobs being created, it will lead to a no win situation to prevent foreclosure among prime home loan borrowers. We are looking at over 2 million homes to flood the market this year and that is just an estimate.

Foreclosure Cleaning Business will result from all the homes that will be put up for sale in the coming months. So if you are looking to start a small business this maybe the opportunity that you have been looking for. A good recession home based business can be marketed to Realtors, bankers because they specialize in selling foreclosed properties, they will want to know what services you will offer in your foreclosure cleanup business and it will require you to be organized and quote a competitive price, you can also offer property inspections to your list of services

Just remember that starting a new business is not easy and will require that you do research and find out all the facts, educate yourself on the proper procedures to follow and get the right licenses and insurance in the beginning so you can be prepared for all types of work assignments.

Prime Home Loans Cause Foreclosure Crisis

If you are looking for a small business opportunity than you will not have to look very far, simply because according to housing industry experts prime home loans has created an opportunity for entrepreneurs in 2010.

Foreclosure cleaning companies thrive in this bad economy because of the way qualification for mortgages were processed 3 years ago. Those who had bad credit could get a mortgage and this lead to the foreclosure crisis we see today. Subprime loans is how it all started just a few years back has left many homeowners without the necessary income to afford the rising adjustable rate mortgages that are leading to default at an alarming rate. 

What about the people who have great credit and can afford their mortgage?

Well many of them are facing the same fate of losing their homes to foreclosure as well, simply because, what has turned out to be loss of employment and changing circumstances, and with the equity gone from their homes they have no way to pay back the balloon mortgage payments. It has become like a big roller coaster ride, when the real estate market was booming many took vacations, remodeled their kitchens and even bought new cars, which has lead to them being in a very tough situation today with unemployment on the rise.