There are alternatives to foreclosure that can actually help homeowners move on to a more stable financial future
Chapel Hill, NC (PRWEB) March 7, 2011
Local CDPE-designated agent, Jodi Bakst of Team Jodi, has developed a website report providing information regarding the truth about a mortgage trend called “strategic default,” where homeowners walk away from their mortgages.
“There is a growing trend of distressed homeowners who have heard that a strategic default may be their best option,” Bakst said. “With this report, I’m showing homeowners that there are alternatives to foreclosure that can actually help them move on to a more stable financial future, rather than further damaging their credit, security clearance, or current or future employment.”
This community resource is available at http://www.ShortSalesinNC.net and explains the benefits of short sales, or selling a property for less than the current mortgage amount owed. Benefits include less damage to credit scores, and the ability to qualify for a future mortgage more quickly.
In a recent study, the Chicago Booth/Kellogg School Financial Trust Index estimated that 36 percent of Americans would consider walking away from their mortgage if they were “underwater,” or owed more than the property was worth. Now that one in four Americans is currently underwater, Bakst sees the need for greater education.
“Individual homeowners as well as our entire community would suffer the consequences of strategic default,” Bakst said. “I can share solutions and alternatives that can help preserve the financial stability of distressed homeowners and the values of our neighborhoods.”
The CDPE Designation Bakst has acquired provides a specific understanding of the complex issues confronting distressed homeowners. Through comprehensive training and experience, CDPE-designated agents are able to provide solutions for homeowners facing financial hardship in today’s market.