We are real estate professionals with a CPED (Certified Distresses Property Expert) which understands the complex issues of the real estate industry and the foreclosures avoidance options available to homeowners. Our CDPEs are able to provide solutions for homeowners facing hardships in today’s market, specifically short sales. They have the tools needed to help homeowners find the best solution for their situation. Often, when other options have been exhausted, our CDPEs can help homeowners avoid foreclosure through the efficient execution of a short sale.
CDPEs don’t merely assist in selling properties, they serve and help save their clients in need.
What is a Short Sale?
A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.
For homeowners to qualify for a short sale, they must fall into all of the following circumstances:
Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.
FORECLOSURE VS SHORTSALE.pdf
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