Foreclosure Cleanup Business Advice: What are “Assuming Institutions” & How You Can Make Money from Them

As we talked about in this post on getting contracts for foreclosure cleaning jobs, when banks fail, it’s a good thing for foreclosure clean up businesses.

But, even more important than knowing the names of failed banks is knowing the names of the institutions that take over their assets. These are known as “assuming institutions” (aka “acquiring financial institutions”).

As we detailed in the linked-to post above:  

When a bank fails, it first falls in the hands of the Federal Deposit Insurance Corporation (the FDIC). Then, they usually go on to be bought or taken over by other banks and/or financial institutions because they have assets and customers who still need to be serviced. [These are the “assuming and/or acquiring financial institutions”]

Get Foreclosure Cleaning Jobs

The aforementioned institutions have a ton of assets on their books – from car loans to small business loans to real estate. And, this last kind of asset is what makes them are prime targets for getting foreclosure cleanup jobs because much of the real estate assets they hold are foreclosed properties.

And, what do foreclosed properties need?

Cleaning, trashing out, lawns mowed, locks changed, pools drained, windows boarded up – in short, all the types of services a foreclosure cleaning business can offer.

Spring is Here: It’s a Great Time to Get Foreclosure Cleanup Work

Now that spring has sprung and the warmer weather is here, it’s a great time to get foreclosure cleanup work. See the previous post to learn who exactly you should be making contact with to get foreclosure cleaning jobs from acquiring institutions.

Get Leads on Foreclosure Cleaning Contracts

Register your foreclosure cleanup business with HUD and/or your local housing authority to get the heads up on foreclosure cleaning jobs you may qualify for. One contract can jumpstart your business – taking it to the next level.

Read how one commercial cleaning company increased revenues from $225,000 per year to over $10,000,000 by getting government contracts. Your foreclosure cleaning business can be a success story like this to.