A number of the homeowners that we talk to everyday are motivated by two main goals. The first, obviously, is to save their home from foreclosure, avoid potential scams, and get their financial lives back to normal. Teaching homeowners how to do each of these is the main purpose of our website, which encourages every foreclosure victim to gain the foreclosure information necessary to stop foreclosure on their own. However, many homeowners that we talk to also have a secondary, altruistic goal, which is to help families in similar situations avoid facing foreclosure and the loss of their homes. In fact, some even want to get into the foreclosure industry as a way to provide legitimate, empathetic support to other foreclosure victims and make a career out of helping others in need.

A good number of homeowners who have faced foreclosure know just as much about the foreclosure process as many of the major players in the real estate and mortgage industries. Realtors, mortgage brokers, and representatives from mortgage companies often know very little about how foreclosure actually works, as it is not often studied. Rather, the basics of how mortgages work and how real estate is transferred is focused on to the exclusion of the actual process that banks use to take a home back that is in default. This leaves the door wide open for former foreclosure victims to provide their own foreclosure advice to other homeowners in financial hardships.

A lot of foreclosure experts can do their work from home or in an office. The main consideration will be what services are being provided to the clients, though, to determine how easy it is for the new foreclosure expert to manage the process of helping homeowners save their homes from foreclosure. If a former foreclosure victims plans on helping to buy or sell the actual foreclosed properties, they will need a real estate license to act as anyone's agent. They will also need to be a real estate broker or work for a broker in order to ensure that there is proper oversight and all the laws are being followed in the state. Finding a local broker to work for is often easy for real estate agents, as there is always someone looking to buy a house or sell a house.

However, if the new foreclosure specialist is just interested in doing loss mitigation work, there are no licensing requirements in most states, although it is a good idea to check with the states that they plan on doing business in. Some states have new regulations for loss mitigation, including specific language that must be included in contracts or to be disclosed to clients, so it is important to do the necessary research to make the entire operation legal and successful. For the homeowner who wants to help other foreclosure victims, there are also a number of foreclosure help companies that one can become an affiliate of and work through. Many of these companies specialize in helping homeowners put together forbearance agreements or loan modifications, and provide valuable services to foreclosure victims. Of course, it is wise to keep an eye out for foreclosure scams, as well.

In terms of being scams or not, foreclosure experts have two options. First, they can work for a company that they have interviewed, researched, and come to trust and do the best that they possibly can within their structure for the homeowners trying to stop foreclosure. In reality, this might be a good place to start learning the "back end" of the foreclosure industry and how people are able to avoid going through foreclosure in various ways. Not every company will be proficient in every way to save a home, of course, but many foreclosure experts have been in the industry for a number of years, if not decades. The important thing to remember, again, is to do the research necessary to ensure that the company is legitimate and works with the best interests of their clients in mind.

The second option is for the foreclosure victim turned foreclosure specialist to start their own business and work for himself or herself. That way, if the entire operation turns out to be a scam, it is no one's fault except their own, but they can change it at a moment's notice, since they control the business that they own. If a former foreclosure victim wants to help homeowners in foreclosure, and they can not trust anyone else not to be a foreclosure scam, then all they have left is themselves. Depending on how much they trust themselves to be honest with people, they should consider doing it on their own.

Once a homeowner has faced foreclosure and come through it, they can provide an important perspective to other foreclosure victims in similar situations. Especially as foreclosure is often accompanied by a transition period, there may be an opportunity for homeowners to become the most powerful positive force in the foreclosure industry and provide the most relevant foreclosure advice available. Having shared a common experience is one of the best ways to gain trust, and foreclosure victims have a valid reasons to help others stop foreclosure and avoid the pain and humiliation that accompany every foreclosure situation.

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