Short sales allow a cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More lenders are willing to consider short sales because they are much less costly than foreclosures.
In the Reno-Sparks area, a considerable number of homes in all price ranges are in danger of foreclosure. Local experts say that even high-priced homes are not immune.
“This CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales,” Moser said. “It is so rewarding to be able to help sellers save their homes from foreclosure.”
Alex Charfen, founder of the Distressed Property Institute (DPI) in Boca Raton, Fla., said Realtors, such as Moser, who have the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys their credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience, he said.
The DPI opened in January 2008 and provides on-site and online training. The CDPE is the premier designation for Realtors helping homeowners in distress and handling short sales.