Property Preservation Definition and Vocabulary List

Banks and mortgage servicing companies frequently use terms and vocabulary that may be unfamiliar for you at first. It sure was for me when I first started. You will need to know the following words and their meanings and be able to "fluently" use them while talking to your potential clients. 

This is just one of the many components you will need to master in your quest to run your own successful property preservation business.

REO and P&P Foreclosure Properties: 2 Different Types of Foreclosures In The Property Preservation Industry

Regardless of how it may appear on the surface, there is an extremely important issue that property preservation company owners need to know about, regarding the terms "REO" and "Property Preservation". These are two completely different categories of foreclosure properties within the property preservation industry. Most national property preservation companies only specialize in either one or the other or they will separate the jobs by using two totally different departments within the same company; i.e. 1 for REO property work orders and the other for the Property Preservation work orders. If you are thinking about starting a property preservation business, you better do your homework and learn about each of these 2 categories of foreclosure properties. Otherwise, you will be quickly introduced to the most aggravating thing in the world,... the Charge-back.