General Business Credit, The article states that In the first quarter, the percentage of those borrowers who were behind on their mortgages or in foreclosure had doubled from a year earlier, to nearly 6% and goes on to say that Credit Suisseanalyst Rod Dubitsky predicted a week ago that 8.1 million mortgages, or 16% of all mortgages, General Business Credit, will go into foreclosure over the next 4 years.
A weak economics, continued declines in house prices and rising delinquencies among prime borrowers all, but ensure that foreclosureswill march steadily higher, he says. Not such good news for the economics, but great news indeed for entrepreneurs intrigued in starting a foreclosure cleaning job to clean and repair foreclosed homes for the banks.
General Business Credit
If you wish to be hired for cleanup or preservation work, you will need to operate your company as a pro company. The great news is that you could set up a business rapidly and inexpensively, and usually on one’s own, General Business Credit.
Many individuals decide to set up a Limited liability company because of how easily and quickly it may be done, but you will want to check with the accountant or other business professional to select the kind of business entity that is right for your personal situation. Once your company is set up, you will need an Employer Identification Number, which is just like a SSN for your company.
As soon as you’ve your EIN, you can open up a business banking account for your business. Once you legally set up your company, you might be required to register your company with your county or city in order to obtain a company license to operate.
You can start by calling City Hall or the city hall or County Clerk to inquire as to whether or not you need a city\/county\/state business license and if so, how to get one. If you wish to do preservation work, determine whether or not you need a contractors license.
You absolutely must have a Commercial Liability Insurance contract and Workers Compensation Insurance in order to run your company. Insurance will likely be one of your largest start-up costs most insurance agencies enable you to pay the prize on a monthly basis, which surely makes this expense more affordable.