Wall Streets Fears 2008 Mortgage Melt Down

Wall Streets Fears Another Financial Crisis of 2008

Nobody knows for sure when the next financial crisis or another mortgage meltdown will happen again.  The last financial crisis happened in 2008, supposedly.  Wall Street is starting to worry about the next financial crisis.

I was a real estate listing agent in from 2001 to 2006.  From 2001 to 2004.  I would close an average of 3 real estate listings a month.  In 2005 my real estate listing business started to slow down.  It was starting to come harder to close a real estate listing.

In 2006 it was becoming very difficult to close a real estate transaction.  It was very painful financial times for me and my family.

I instinctively knew there was going to be another recession.  I was very obvious to me.  I started a junk hauling business.  My junk hauling business focused on cleaning Bank Owned REO properties – my REO real estate business was slammed with work.

The mortgage meltdown started in 2005 if you ask me.  That is when I felt it in my real estate listing business.

In 2007 I was slammed cleaning out foreclosure properties.  In 2008 that is when it hit the media.  It was coined the mortgage meltdown of 2008.

If you wanted to start a foreclosure trash out company in 2008 it was too late by then.  I already had 25 people working for me and knew all of the asset managers, REO listing agents and I was cleaning out 125 properties per month.  In addition, were boarding up REO foreclosed properties, fencing REO bank owned properties, and so much more work that our clients always had a special request.

https://www.cnn.com/videos/tv/2018/08/03/2000s-original-series-episode-5-clip-3-bear-stearns-financial-crisis.cnn

Here is a great video on how to start a foreclosure clean up service.