Distressed Property Expert
What is a Certified Distressed Property Expert?
"A Certified Distressed Property Expert (CDPE), is a real estate professional with specific understanding of the complex issues currently confronting the real estate industry. Through vigorous and comprehensive training and experience, CDPE's are able to provide solutions for homeowners facing hardships in today's market." The prospect of foreclosure can be financially and emotionally devastating, and often homeowners proceed without guidance of any kind. A CDPE has the tools needed to help homeowners find the best solution to their situation. He does't merely help sell properties, to the contrary, he serves his client in need.
Albuquerque NM Realtor Receives CDPE-Certified Distressed Property Expert Designation, Helping Families Avoid Foreclosure
Albuquerque, NM, June 12, 2008 -(www.LloydMcKenzie.com)-- C. Lloyd McKenzie, Real Estate Broker and Team Leader of Lloyd & Associates at Allstar Realty, LLC has completed the rigorous training program and has received the coveted designation of "Certified Distressed Property Expert" (CDPE), to help families avoid foreclosure.
The training is a 24+ hour course designed to help Real Estate Practitioners direct homeowners away from foreclosure and towards a more positive outcome.
The Developers of the Certified Distressed Property Expert Designation (CDPE) believe that in almost all cases the best person for a homeowner in distress to speak with is a well informed Licensed Realtor that has the understanding and tools needed to help that homeowner find the best solution to their situation.
Lloyd understands the undue burden and stresses homeowners facing foreclosure experience. As a practical matter, he is knowledgeable about the available options and alternatives at the homeowners' disposal. As a Realtor, he cannot give legal advice but he routinely directs affected homeowners towards the right solutions.
Lloyd is:
- Informed on issues and options
- Knowledgeable of processes and procedures
- Able to provide information, websites and information about helpful programs to worried homeowners.
With the specialized training received from the Distressed Property Institute, a CDPE has the ability to offer a helping hand to homeowners who may need to sell their home on short notice (Short Sale), or face the possibility of foreclosure, due to any number of legitimate financial hardships including:
- loss of job,
- business failure,
- damage to property
- death of spouse or family members
- severe illness
- Inheritance
- divorce or separation,
- mandatory job relocation,
- medical bills,
- incarceration
- reduced income,
- reset that cause upward adjustment of mortgage payments.
Many homeowners don’t know where to turn when they are having financial troubles. Banks and collection agencies put a great deal of pressure on people and because they may not know they have options, they think foreclosure is the only way out. This can have detrimental and lasting effects, both personally and financially.
Unfortunately, with the current state of the real estate and financial market, this is a reality for a staggering number of people.
Time is of the Essence
Owners who are experiencing or expecting financial problems associated with a distressed property should obtain the services of a Certified Distressed Property Expert as early as possible. There may be options for those who act quickly.
What is a Short Sale?
A short sale refers to the potential sale of real estate where the mortgage on a home is greater than the fair market value. Basically, you owe more than what the house is worth. A short sale requires that the homeowner qualify with a legitimate “hardship” and the mortgage company or companies agree to accept less than the full balance of the loan at closing. A relatively new solution to a financial crisis, the short sale has been used successfully as one of the last options before foreclosure.
Benefits of a Short Sale:
- No additional funds required at closing
- Avoid foreclosure
- Preserve credit
- Avoid judgment
- Commissions and fees paid by lender. No cost to seller.
A successful short sale requires a qualified Realtor such as a CDPE (Certified Distressed Property Expert) who understands the complexity of this process and the extensive documentation required. The success of a short sale depends on the knowledge and ability to work closely with lenders, banks, accountants, and other realtors. The short sale is one of the most important aspects of real estate in today’s market.
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