Are thier any foreclosure Apprenticeships or Internships I can apply for?
Question:
I recently sold my business; I'm comfortable selling to people and my background is in finance, so I think the foreclosure world will be a good fit for me. Any advice would be appreciated.
Answer:
The foreclosure industry operates as far under the radar as possible, in most cases. Even though the experts are seriously attempting to help homeowners in desperate situations make the most of what opportunities they have, there is a perception that people who work with foreclosed houses are just out to take advantage of the homeowners. That's why there are plenty of foreclosure scam stories in the news, but not a whole lot of success stories, which are much more common.
So you might have trouble finding an actual apprenticeship or internship. There will be various affiliate programs you can join, in order to learn how to negotiate with banks and put together repayment plans, loan modifications, etc. Of course, your success with these systems would depend on how much work you put into them.
The best way to gain experience in the field is probably to find someone in the industry that you respect and ask them to mentor you, either on a complimentary basis, or splitting profits from work done, etc. It will be up to you to find a local company around you or find one online that you can work with that provides homeowners with real services.
And the only -- really, the only -- way to learn about foreclosures in depth is to talk to the people in danger of losing their homes. Every story is different and things can change in a matter of a few minutes or stagnate for months, depending on the circumstances. A few months will give you the basics of the process, but there will still be new stories and issues years later.
It's also a bit of an art finding out what is actually going on in any foreclosure situation. Homeowners are often so much in the dark that they have no real idea what is happening to them, how much time they have, etc. If you can quickly frame the problem, then you're probably halfway to helping them figure out a solution.
You're probably better off with some unofficial help from a source you trust, rather than strictly joining an organization long-term. You seem entrepreneurial enough to take on the business as soon as you gain enough real world experience, so there's no real need to get stuck with one company or another if you don't have to.
Good luck.
ForeclosureFish
http://www.foreclosurefish.com/...
I have lived in NJ for all of my life. I have known 2 people who managed to purchase a foreclosure. They both had family members who worked in the bank that took control of the foreclosed home and turned the home over to their family members. There is too much collusion for any normal person to get a hold of a Foreclosure. Good Luck in trying.
You can always pay those scamming websights for their lists.
P.S. You can get foreclosures in the ghetto though. Try Irvington, Newark, and Camdon. The banks will give the houses to you.
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