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Avoiding Foreclosure
By Michael Fahey | June 29, 2009
NEW HELP/HOPE FOR TROUBLED HOMEOWNERS
Everyone is aware of the “Foreclosure” crisis effecting most of the country and our home town of Bullhead City real estate is also affected. Much has been written about Homeowners who are “upside down” or “underwater” with home loans that are now higher than the value in their homes. Since our Bullhead City, Fort Mohave and Mohave Valley real estate market saw the values rise at an amazing rate, we are now experiencing the downside of a declining market. What can a person do who is faced with this situation and is falling behind with loan payments?
Many local home owners are attempting to use a Short Sale transaction in order to avoid foreclosure. However, many “Short Sale” properties tend to linger on the market, for many reasons. Many times a homeowner is not given the correct information to make the tough decisions needed to avoid foreclosure. Although the process can be extended due to the backlog with /protracted time frames involved in negotiating with the Lender/Investor to accept a sale price that is less than the amount owed on the property, the results are worth the effort.
In 2008 Alex Charfen, a Boca Raton Florida Realtor, with extensive Short Sale experience founded the Distressed Property Institute and began training other Real Estate professionals in how to streamline the Short Sale process and avoid foreclosures. Recently a number of Real Estate professionals from Country Ranch GMAC Real Estate attended that training and received a Certified Distressed Property Expert (CDPE) designation. Leading the way at Country Ranch both owners, Michael and Petra Fahey are certified CDPE Realtors.
According to Petra, who is the Sales Manager for Country Ranch Realty, Bullhead City Arizona, the difference between a CDPE designee and a Realtor without it is a Closing rate of approximately 80 per cent versus 8 to 14 percent! ”The knowledge that we are able to bring to the table as Certified Distressed Property Expert designees not only can streamline the Short Sale process but, in many cases can have significant impact on our Clients long term personal credit.” “For intendance, a foreclosure will negatively affect your ability to purchase another home for up to 7 years while a homeowners with a short sale can usually purchase a home as soon as 2 years.” Petra shared. At Country Ranch Real Estate we feel so strongly helping homeowners avoid foreclosure that any of our Agents listing distressed properties must either have a CDPE designation or partner with another Agent who does. This insures the absolute highest standard of practice and care for our Clients Real Estate needs.”
If you are one or more payments behind on your home call Country Ranch Real estate to speak with one of their professionals. All calls and inquiries are handled with the strictest confidence.
Topics: Bullhead City Arizona Real Estate, Fort Mohave AZ Homes for Sale, Mohave Valley Arizona Real Estate | No Comments »
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