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How Loss Mitigation Companies Can Help You Grow Your Foreclosure Cleanup Business / REO Trash Out Business

Loss mitigators are on the frontline of the foreclosure cleanup crisis. Learn how they can help you grow your foreclosure cleaning business / REO trash out 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.

As a real estate industry contractor or subcontractor, 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, painting, debris removal, repairs, 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 so you can grow your business.

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 so your business can profit through loss mitigation companies.

Many wishes of success in your real estate industry contracting business and foreclosure cleanup business / REO trash out business.

NOTE: Throughout the internet/web and in real estate industry literature, you may see the terms or names mortgage field services, property preservation business, foreclosure cleanup, foreclosure cleaning, foreclosure clean-outs, foreclosure clean, clean foreclosures, cleaning foreclosures, REO trashout, REO trashouts, field asset services, property field services, field service, and field services used interchangeable. The main thing to remember is foreclosure cleaning and foreclosure cleanup generally refer to smaller entities; while property preservation generally refers to larger companies.

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Article by Cassandra Black, Author of How to Start a Foreclosure Cleanup Business and several foreclosure cleanup industry Guides, Reports and Forms. Sign up as a Premium Newsletter Subscriber. You will periodically receive foreclosure clean-up job leads and consultative advice to help you grow your foreclosure cleanup business!

For more industry information, visit the foreclosure cleanup blog and the foreclosure cleaning newsletter archive.

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