Major Lenders Launch Proactive Short Sale Push as CDPE Agents Prove Vital Link in Foreclosure Avoidance

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With upwards of 1.6 million bank-owned properties depressing home prices and stalling the real estate market’s recovery, foreclosure prevention has fast become a national priority. In cooperation with the Charfen Institute, lenders are revolutionizing their approach to short sales through expedited approvals, cash incentives to delinquent borrowers upon closing, and alliances with CDPE agents who have the training to efficiently navigate short sale transactions.

"As lenders increasingly sharpen their focus on avoiding foreclosures, CDPE agents are proving to be sought-after experts in helping clients to navigate these transactions."
-- Alex Charfen

Alex Charfen, co-founder and CEO of the Charfen Institute and creator of the Certified Distressed Property Expert (CDPE) designation, announced today that several mortgage loan servicers, including Chase and EMC, are proactively connecting CDPE-designated agents to delinquent borrowers for the purposes of pursuing short sales.

A short sale is a complex transaction in which a financially strapped homeowner seeks to sell a home for less than the amount due on the mortgage. Though little understood a few years ago, short sales have proven to be a less costly alternative to foreclosure for the lender, while carrying far fewer long-term consequences for the borrower.

“The rigorous two-day CDPE curriculum is widely recognized industry wide as a real estate professional’s best foundation for operating with optimal effectiveness within all aspects of the distressed property market,” Charfen said. “As lenders increasingly sharpen their focus on avoiding foreclosures, CDPE agents are proving to be sought-after experts in helping clients to navigate these transactions. The nearly 35,000 real estate agents nationwide who have achieved their short sale designation are on the front lines of the housing market recovery,” Charfen emphasized.

"We're excited that major lenders have created the infrastructures to handled the demand for short sales in the current market, and are committing to helping homeowners in distress by streamlining short sale processes and creating incentives to avoid foreclosure," Charfen added.

The impact, CDPE agents report, is a drastic acceleration in approval times. Agents are reporting that a process that had taken several months as recently as a year ago is now being completed within 24 hours in some cases.

About the Charfen Institute
The Charfen Institute provides training and resources to help small business owners and real estate professionals achieve tangible business results. The company produces more than 300 educational events each year through various divisions, including: The Distressed Property Institute’s Certified Distressed Property Expert® (CDPE) Designation, the Certified Investor Agent Specialist™ (CIAS) Designation (http://www.cias.com), and LEAD Experience™ (http://www.lead-experience.com). The company’s CDPE Designation is the fastest growing independent designation in real estate industry history, with close to 35,000 agents trained.

Recent awards for Alex Charfen and the Charfen Institute include: No. 21 on the 2011 Inc. 500 List of America’s Fastest-Growing Private Companies; Best Places to Work in Central Texas 2009 and 2010; Alex Charfen for Austin’s Fittest CEO and the Austin Under 40 Award for Real Estate; numerous Telly and Omni Awards, and the 2010 Aegis Award.

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