Have you ever dreamed of quitting that mind-numbing, nine-to-five job to take on something more independent? Have you yearned to be an entrepreneur and and pursue your own business, working on your own schedule? Have you wondered to yourself what sort of business you should start, what would be fulfilling and provide a solution to a need in today’s market?

A career in loss mitigation counseling offers everything an aspiring sole proprietor could want in a new career. As a loss mitigation counselor, you become your own boss, working according to your desired schedule and workload. There are a number of benefits to loss mitigation as a career as well, as it is ideal for adults of all ages and levels of experience, and the job itself brings great satisfaction to people interested in helping others find solutions to their mortgage and financial troubles.

Set your own hours – you can work full-time or part-time as needed Work from anywhere – set up an office or work from home Easily transfer workload – if you have to move, you can set up your shingle anywhere Minimal start-up costs – there is no equipment to buy, only training fees where applicable

The purpose of loss mitigation is to essentially prevent foreclosure on homes. Each year thousands of families face the possibility of losing their homes due to various financial problems. In order to stop foreclosure, many seek the guidance of a counselor who specializes in loss mitigation. The loss mitigation counselor assesses each case to determine what can be done to preserve the homeowner’s financial standing, and possibility let him keep his home. For a person interested in humanitarian work, becoming such a counselor provides the ability to help others and making an honest living.

Becoming a loss mitigation counselor will require some training, but prior education or experience in real estate or finance is not necessary. Loss mitigation differs from other home-based work opportunities in that it is not a get rich quick scheme. It is understood by everyone who applies for training that work will be involved to make their individual businesses successful. In loss mitigation, the work is equally rewarding with every family assisted. It is a career for anybody seeking such fulfillment and freedom.

By: Dan Schultz

About the Author:
Dan Schultz operates American Loss Mitigation, Inc., a consultancy dedicated to helping people prevent home foreclosure. Schultz also trains interested people to become loss mitigation counselors and set up their own counseling agencies.

Buying a foreclosure can be a lucrative investment, locating a foreclosure before anyone else or a property in pre-foreclosure stage allows you to be the only person negotiating with a motivated seller.” The recent real estate boom inspired mortgage financers, to increase the number of sub prime mortgages given to people considered high risk has now has fueled the current mortgage meltdown.

As always, an opportunity presents itself. Buying a property in pre-foreclosure involves approaching the borrower or owner and offering to buy the property outright which means at a discount. The added value this system is, the owner can walk away with something to show for any equity in the property and avoid a bad mark on his or her credit history.

This pre-foreclosure process also gives the buyer the time to research the title and condition of the property. Deals of this nature typically realize discounts of 20 to 40 percent below market value. In today’s heated sub prime market, those numbers are very realistic.With the foreclosure rate running at a record-setting pace it is understandable why many homeowners are willing to do anything or sign anything to keep from losing their homes.

Clearly today’s market environment is attractive to the pre-foreclosure investor. According to the Mortgage Bankers Association, consumers with normally good credit are also defaulting on their mortgages. More than 5 percent of loans across the country were delinquent, up from last year. It should be noted that delinquent loans do not include homes in foreclosure however they maybe in the pre-foreclosure stage. Equally noteworthy, trillions of dollars in mortgages will reset by year’s end so homeowners who were able to pay their mortgage bills until now, may be at risk of missing house payments as well.

If you are in the pre-foreclosure market, with some additional effort, you can find these homes and properties. As you become acquainted with these contacts, you can tell them the type of home you are looking for and the area. If you check regularly, you may obtain information on homes before they are added to public databases.”

Paradise Lost and Found

While Hawaii’s housing market is tightening like the rest of the country, it’s not experiencing anywhere near the level of foreclosures seen in other states nor the level seen in Hawai’i in the mid-1990s. In the mid-1990s, Hawai’i foreclosures ranged between 4,000 and 5,000 a year.Today, Hawaii has the 10th-lowest foreclosure rate in the nation.

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