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3.4 million homes are forecast to be foreclosed by 2011 and government programs have done little to stop the foreclosure freefall.
The housing market - already awash in subprime foreclosures - is now getting hit with a second wave as homeowners with "liar loans" default in record numbers.
The work is relatively easy - replacing locks, winterizing, boarding, cleaning, hauling away trash, and yard work, Work is plentiful and requires a short turn-around. The average house generates about $1,000-$5000 worth of initial services and repairs. Specific HUD Guidelines, paperwork/documentation requirements; REO ServicePro knows these requirements and will assist with this process.



Call (703) 485-1316 or email gary@reo-servicepro.com for a copy of the HUD Guidelines
For sub-contracting opportunities or starting your own business, please respond to gary@reo-servicepro.com with your credentials, availability, and service areas.

The work is plentiful and REO-ServicePro provides you the knowledge and support:
 

  • About the business itself, the banks, lenders, and their representatives, including all the definitions you will need to know, how to speak the foreclosure language, and about the properties themselves.

  • How to setup your business, the forms and paperwork you will need to complete, licenses and insurance, what you will need and where to get it, and what tools you will need to get started.

  • Cleaning out the properties, step by step instructions on exactly how to do it the right and most efficient way. Cleaning the properties, how to clean them to show at their very best and quality control. Cleaning out the exterior of the properties, everything you need to know about the outside-what needs done, what stays, and what goes.

  • Lawn and landscaping, everything you need to know about cutting the lawns, trimming the trees and bushes, to common foreclosure specifications.

  • Dumpsters, everything you need to know about loading dumpsters and using them to their fullest potential, including everything about cubic yardages and how to estimate them.

  • Estimating and bidding, including easy to use formulas, secrets to getting approvals for jobs, and a bidding document you can use for all of your bids.

  • Rekey and securing, including everything you will need to know about gaining entry into vacant properties, changing locks, securing, and boarding properties.

  • Winterization, step by step instructions on how to perform this service, to protect the plumbing systems from freezing.

  • Utilizing the 20 other services that go hand in hand with property cleanouts, that you can provide to your customers and can make additional money for you.

  • Marketing your services, including companies to contact that are actively looking for reliable contractors in this business, and their vendor applications to send out and get you started immediately.

  • Resources, for exactly where to go to obtain the needed supplies for everything you need to keep your business running smoothly.

For sub-contracting opportunities or starting your own business, please respond to gary@reo-servicepro.com with your credentials, availability, and service areas.
As more and more Americans will lose their homes during this economic crisis, a new industry has emerged consisting of individuals who clean up a house after a foreclosure. One in 10 Americans with a mortgage is either behind or in foreclosure, and more than 500,000 jobs were lost in November. The U.S. is on track for 2.25 million foreclosures this year. This puts a lot of pressure on field service companies to find contractors who can secure, repair and maintain these homes.
Scott Pelley reports on the mortgage crisis that's far from over, with a second wave of expected defaults on the way that could deepen the bottom of the U.S. recession. If you thought sub-primes were insanely reckless wait until you hear what's coming. There were two other kinds of exotic mortgages that became popular, called "Alt-A" and "option ARM." The option ARMs, in particular, lured borrowers in with low initial interest rates - so-called teaser rates - sometimes as low as one percent. But after two, three or five years those rates "reset."  A mortgage of $800 dollars a month could easily jump to $1,500.