The real estate industry is facing its most challenging period in history, and CDPE-designated real estate agents are leading the charge toward recovery
Austin, Texas (Vocus) March 15, 2010
The Distressed Property Institute, LLC today announced that membership in their Certified Distressed Property Expert® designation has grown to 20,000 members nationwide. This mark has been reached in less than two and a half years, and membership has doubled over the past seven months. The CDPE training continues to adapt to the changing mortgage crisis to provide real estate professionals with the best possible solutions to help homeowners in need.
“The real estate industry is facing its most challenging period in history, and CDPE-designated real estate agents are leading the charge toward recovery,” Alex Charfen, co-founder and CEO of the Institute, said. “Hundreds of thousands of struggling homeowners across the country have been able to find real solutions, including short sales, with the assistance of CDPEs.”
In a short sale transaction, the lien holder accepts the selling price of the home, even if that amount is less than (“short” of) the borrower’s mortgage balance. This foreclosure avoidance option is less harmful to a homeowner’s credit score, will not challenge employment or security clearance, and provides the possibility of future homeownership in a shorter period of time.
“But 20,000 CDPEs across the nation is simply a good beginning,” Charfen added. “With more than 300,000 foreclosures in January alone, and approximately one in six mortgages currently not being paid, this crisis is beyond severe. Today, CDPEs are proving their value in turning around this devastating trend.”
The growth of the CDPE designation has been assisted by the endorsement and support of industry-leading brokerages, including RE/MAX International and Keller Williams® Realty, Inc., as well as industry icons such as Dave Liniger, chairman and co-founder of RE/MAX, and Brian Buffini, founder of Buffini & Company.
“With the support of industry leaders for quality education, we can help more agents stay in business, who can then help more homeowners find solutions,” Charfen said. “The CDPE training is working and we have already made a noticeable dent in foreclosures. In March of 2009, short sales were just eight percent of the market. Today they are 29 percent, but we’ve still got a long way to go.”
The Distressed Property Institute also stands in support of the U.S. Treasury Department’s Home Affordable Foreclosure Alternatives Program (HAFA) — a new government initiative created to simplify short-sale procedures and aid homeowners during the mortgage crisis. The Institute’s support for HAFA signals its ongoing efforts to keep the CDPE training relevant, effective and responsive to government programs and legislation.
About the Distressed Property Institute, LLC
The Distressed Property Institute trains real estate professionals to engage with and assist homeowners facing hardships. The Institute has developed a curriculum to provide the tools and knowledge to handle distressed properties, including short sales, deeds-in-lieu, mortgage modifications, forbearance, refinances, reinstatements and, if that fails, how to help homeowners through the foreclosure process. After completing a comprehensive on-site or online course, graduates are awarded the Certified Distressed Property Expert® Designation.
About the CDPE Designation
The CDPE Designation provides real estate industry professionals with detailed information on how to engage with and assist homeowners in distress. The CDPE designation has been endorsed by RE/MAX International, Keller Williams Realty and other major U.S. brokerages, as well as industry icons such as: Brian Buffini, founder of Buffini & Company; Howard Brinton, founder of STAR POWER® Systems; Allen Chiang, Chairman of the Asian Real Estate Association of America (AREAA); Tino Diaz, Chairman and President of the National Association of Hispanic Real Estate Professionals (NAHREP); Dave Liniger, chairman and co-founder of RE/MAX; and Joe Stumpf, founder and national spokesperson of By Referral Only®.
For more information about The Distressed Property Institute and the CDPE Designation, visit http://www.cdpe.com.
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