I spent the last 2 days becoming a Certified Distressed Property Expert at an excellent training class put on the the Distressed Property Institute. 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.
Nationally there are now 1 in 8 homeowners that are either in foreclosure or in default (missed at least 1 payment). On top of that there is a coming storm of financing that is going to drive even more homeowners into default when their higher payments hit (see chart) -
As a CDPE my goal is to save Minnesota homeowners from going through a foreclosure which can have a devastating effect on their credit and impact their ability to buy a home or even their employment for many years. By implementing CDPE processes we average an 80-90% success rate with short sales vs. the industry average of 30%.
