Why Foreclosure Cleaning Companies Will Be Profitable for Years to Come

How much further can this foreclosure crisis deepen? How many more home foreclosures are coming down the pike? A lot more — if recent economic data is anything to go by. And, while it’s bad news for many, foreclosure cleanup companies are literally cleaning up!

Why More Home Foreclosures are on the Horizon

THE 1/22/09 MSNBC.com article, Recession or depression? Too early to tell, states, “. . . some economists believe that we may be at greater risk for another depression today than at any time since the last one ended more than 60 years ago.” Scary!

Nationally, the unemployment rate stands at 7.2 percent. The economy has been shedding jobs at 500,000 or more per month since the last quarter of 2008, and every day major companies are announcing more planned layoffs. And, not layoffs of hundreds, but layoffs of thousands.

How Quickly Foreclosures Can Happen Once You Lose Your Job

With layoffs, comes unemployment. Once that has run its course, few have enough savings to last for long. And, this is what puts many in danger of losing their homes.

First off, unemployment is not enough to sustain the bills that many unemployed workers have. And really, it’s not meant to. But, the heating bill is the same each month – whether you have a job or not. To fill up the gas tank costs the same every time, whether you have a job or not. Groceries cost the same – or more — whether you have a job or not.

In short, the prices in the world around you don’t take into account that you’ve lost your job. For many, as the mortgage is their biggest monthly bill, it’s also the one that’s hard to stay current on. Hence, before you know it, foreclosure notices start arriving in the mail.

Why Foreclosure Cleaning Companies are the Becoming Small Business of Choice

For all of the reasons listed above, foreclosure cleaning businesses are becoming the small business opportunity of choice. In fact, of the fastest growing franchise opportunities on the market today, five of the top 10 are some type of cleaning company.

For every dark cloud, there is a silver lining. While a home loss is never wanted or expected by anyone, someone has to be there to pick up the pieces – ie, prepare a home to go back on the market.

This means boarding up broken windows, maintaining the lawn, removing left-behind trash and debris, painting, changing locks, winterizing, etc. Full-service foreclosure cleanup companies perform all of these duties.

The economic and home mortgage crisis is going to take a while to sort out – a few years at minimum. And, this spells opportunity for those interested in starting foreclosure clean out businesses.

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