Author: Maggie Dawsonbr
Source: ezinearticles.combr
br
Finders fees are probably the most underexploited way to make money from real estate foreclosures that exist in the current economy. Why? One main reason is likely the culprit: real estate investors are simply ignorant to the possibilities inherent in helping victims of foreclosure recover the equity theyve lost to the government.
Everyone has seen the websites run by the state where you can type your name in and see if youve got any forgotten bank accounts or stock dividends being held by the state unclaimed funds division. What almost never shows up on those websites are sums of money like tax and mortgage foreclosure overages. Why? Those funds take a while to make it to the states unclaimed funds department.
Since most finders fees are capped out by state law at 5-15%, the opportunity to be a professional money finder seems less than appealing, since youd have to be successful at collecting a lot of huge amounts to become wealthy. But since these funds often dont make it to the state level for at least 2 years, theres a huge opportunity to make unlimited finders fees from those funds while they are still floating around outside the state level. During that time, they are largely ungoverned.
Also, unfortunately for many tax and mortgage delinquent owners, often state law dictates that their overage equity escheats – that is, lost permanently – to the government before it ever even makes it to the state level, where theyd have a prayer of stumbling upon it.
What does this mean for you? It means that first, you are sorely needed as a money finder. People will lose their equity if someone doesnt help them find it (as many times, they dont even know they are entitled to it). It also means theres a wealth of money to be made from finders fees in the 30-50% fee range. With the skyrocketing foreclosure rate, now more than ever, opportunity is present to both help people keep their equity out of the governments hands, while at the same time fattening your own bank account to the tune of five figures a month.
br
br
pThe most important thing to learn is how to find records of these funds, and find and approach claimants while keeping your sources secret. To read the Insiders Guide to Generating Finder Fees, a target=_new href=http://hooked-on-overages.com rel=nofollowClick Here Now/a./ppMs. Dawson is a found money expert./pbr
br
