In 2006 foreclosure rates reached 30 year highs. Now well into 2007 foreclosure rates have increased from last year. With foreclosures rates climbing opportunities will arise, as in any crisis, for generating an income while 'helping' others. However, as most of us have seen, during crisis many scams evolve and con artists emerge. How is one to separate a legitimate business opportunity from the scams?

In the past two years newspapers have been riddled with articles relating to the arrests, charges and shut downs of many companies claiming to offer 'foreclosure prevention' solutions. In a time of desperation homeowners are exposed and vulnerable to these sharks that have no other interest than to take their home and take their money. There are companies that claim to provide training, whether full or limited, that neither have the knowledge nor the experience to provide such training that would allow an individual the tools needed to ethically and affordably help homeowners.

Ethical opportunities are out there for either mortgage and real estate professionals or the entrepreneur in which they can truly have an ethical foreclosure prevention business. When looking to involve yourself in the foreclosure arena it is important to consider the effects your services, whatever they may be, will have on your client in the long run. Be sure and research all foreclosure options and make sure you are well-equipped to provide as many as possible. A client should be able to turn to you for education and guidance.

The most viable and amicable way of avoiding foreclosure is the use of Loss Mitigation services. Loss mitigation services are the use of a third party negotiator that works for the homeowner and not the lender. This third party will negotiate on behalf of the borrower to find a more financially suitable solution that fits the needs of those homeowners. This will allow them an appropriate time frame in which to catch up on payments that they fell behind on. Not all programs are the same and not all lenders have the same criteria for the qualification to these programs.

A unique way of getting involved in loss mitigation is finding a company that provides the training on free prequalification of a client and initial client handling and interviewing. Once this is complete and the company that you have chosen to work with has approved a case, the client will then be handled by the company, who should be the actual loss mitigation service provider. However, selecting a company should be done with ease and caution and research should be thorough. You will want to align yourself with a company whose staff has more than 10 years experience, who has a strong presence and one who is well established. The company should be more than 3 years old. This will ensure that they were around before the foreclosure hike; it also indicates that they are truly providing a real service unlike those that have set up shop overnight.

Why would you want someone else to handle the actual loss mitigation for you? Loss mitigation is very rewarding and it is a great service. However, the amount of time involved during the negotiation process without the proper knowledge can prove to be extremely detrimental to a client losing their home. In addition, there is a certain amount of liability involved should someone doing the negotiations or providing the service lose a homeowners home. Keep in mind that sending your clients to a company that is well established and has a great track record will only serve you best as you will have more time to help more clients. Many of us do not enjoy paperwork, which can also be time consuming. The right company will handle this for you. For someone working on the front end of the deal, you should expect your commissions to range from 25%-40% of a case fee. In addition, you want to ensure that the sole service of that company is Loss Mitigation. They may have a referral network of professionals that they work with for other services, but not handle these other services in-house. A company that is ethical will want to focus on saving homeowners from foreclosure and keeping them in the homes.

Remember that there are many companies out there but few that can actually be trusted and relied upon. To learn more about becoming a Certified Loss Mitigation Consultant with the company I chose, you can visit our http://www.10kpermonth.com/thankyou website and see how you can really earn $9-$11k per month by truly helping homeowners avoid foreclosure and keep their homes.

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