A foreclosure specialist's job is to help mortgage lenders take back and sell the homes of consumers who do not make their mortgage payments. They're problem solvers who need a calm, positive attitude because they deal with distressed home owners. Foreclosure specialist jobs involve dealing with many cases, so foreclosure specialists must be able to multitask and follow mortgage-servicing guidelines accurately.
Foreclosure Specialist Job Types
Foreclosure specialist job opportunities are found in call centers of default servicing companies, where foreclosure specialists work with home owners facing foreclosure; the offices of foreclosure attorneys who file the foreclosure paperwork; at property-preservation companies; and in mortgage banking companies that handle their own foreclosures.
Foreclosure Specialist Education
Landing foreclosure specialist work generally requires a high school diploma and two years' experience in billing, general accounting or other financial transactions or a four-year college degree with no related experience.
Foreclosure Specialist Job Market
Foreclosure specialist employment has been very high in recent years as banks foreclosed on 3.7 million troubled home owners during the recession. However, recent government rules ordering banks to do more short sales could reduce the number of foreclosures going forward.
Foreclosure Specialist Salary
Median salary for a foreclosure specialist is $37,495, according to Salary.com.