There are no uncertainties that the mortgage industry is in total disarray and there are plenty of homeowners facing foreclosures and the possibilities to lose their homes. The real estate melt down is upon us with no end in site for possibly quite some time. As a matter of fact, analyst project that it is expected to get even worst in the months to come as the ARM (adjusted rate mortgage) mortgages are due to reset and go up in rate. This will result in increased mortgage payments for homeowners who have ARM mortgages. A direct effect that will most likely cause the biggest melt down in real estate history and continuation of never ending foreclosures.

RealtyTrac® reported a release of its Midyear 2007 U.S. Foreclosure Market Report. Revealing a total of 925,986 foreclosure filings including default notices, auction sale notices, and bank repossessions, reported on 573,397 properties nationwide during the first six months of the year, an increase of more than 30 percent from the previous six-month period and an increase of more than 55 percent from the first six months of 2006. Alarmingly, reporting a foreclosure rate of one foreclosure filing for every 134 U.S. households for the first half of the year. To which there is an expectation to surpass over 2,000,000 foreclosures within the next two years.

This real estate crisis presents a wonderful opportunity to supply a much needed demand for help. The problem is very simple, homeowners want to stop foreclosure proceedings and keep their homes without filing bankruptcy. Banks and mortgage lenders would much rather homeowners keep their homes and not have to foreclosure on homeowners. Foreclosures are very costly to banks and mortgage lenders; with the present status of the real estate market condition it is extremely hard to resell properties once foreclosed. Additionally, banks and mortgage lenders are in the business of loaning money, not selling houses. Moreover, Realtors® are reporting hard times moving houses and that is what they do for a living.

The National Association of Realtors® reported that based on signed contracts home sales fell 6.5 percent from July to August and are down 21.5 percent year-over-year. Reporting that in the West, the sales fell 2.7 percent and are down 27.1 percent compared to August 2006.

Foreclosure consulting businesses are becoming the hottest real estate boom. Providing a much needed service to the real estate industry and sought after by homeowners as a hot demand. Professionally trained foreclosure consultants are working directly with banks and mortgage lenders by helping homeowners stop foreclosures. Additionally, professional foreclosure consultants are not real estate investors looking to buy properties and never request that homeowners sign over their property. There is almost not enough supply of professional foreclosure consulting businesses to meet the demands of the shocking rates of foreclosure filings.

Starting a foreclosure consulting business:

1. Office setup - A foreclosure consulting business can easily be operated from a home office or office location. Typically, a foreclosure consultant will need a computer, email access, phone, and fax (sending and receiving).

2. Training - A foreclosure consultant should have a vast knowledge of foreclosure procedures, each State have different foreclosure laws that must be followed. Additionally, foreclosure consultants must submit proper documents required by banks to represent clients.

3. Promotions - While the demand for foreclosure consulting businesses are needed. Homeowners must know how to find foreclosure consultants. A great way to promote your foreclosure consulting business without spending a lot of money on advertising would be to utilize public relations services for free publicity about your foreclosure consulting business.

4. Confidentiality - Foreclosure is a very difficult process and often leaves homeowners feeling ashamed and guilty. Foreclosure consultants must at all times keep confidentiality about clients foreclosure situations.

More info on your stop foreclosure information search:

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