What is a SHORT SALE & How Can a CDPE Help?

What is a Short Sale?

 A Short Sale is created when you sell your property for less than the mortgage liabilities recorded against it.  Simple example:  You bought your home for $600,000 with a 20% down payment and a new first mortgage of $480,000.  Your interest rate has increased and/or one of the payees on the loan has lost their job and the loan payments are no longer possible to make.  You've stopped making the mortgage payment so you have money to buy food and pay the utilities, besides the mortgage companies won't take partial payments.  In addition, the home values in your neighborhood have declined and properties like yours are now selling for $450,000 or less.  This is a short sale.  What you will reap from the sales proceeds is less than what you need to pay off the loan.  Now you need help to not only sell your property, but interface between you and lender(s) involved, as well as their subsidiaries and reconveyance companies.  You need a Certified Distressed Property Expert. 

What is a CDPE?

A Certified Distressed Property Expert^® is a real estate professional with specific understanding of the complex issues confronting the real estate industry, and the foreclosure avoidance options available to homeowners. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today’s market, specifically short sales.

The prospect of foreclosure can be financially and emotionally devastating, and often homeowners proceed without guidance of any kind. The developers of the CDPE Designation believe that the best course of action for a homeowner in distress is to speak with a well-informed, licensed real estate professional. They have the tools needed to help homeowners find the best solution for their situation. Often, when other options have been exhausted, CDPEs can help homeowners avoid foreclosure through the efficient execution of a short sale.

While enduring financial difficulties is challenging for any family, the process of finding a qualified real estate professional should not be. Selecting an agent with the CDPE Designation ensures you are dealing with a professional trained to address your specific needs.

CDPEs don’t merely assist in selling properties, they serve and help save their clients in need.