Helping to keep homeowners out of foreclosure has become a national priority.
Portland, OR (PRWEB) September 14, 2011
“Nationwide, one in seven mortgages are headed for foreclosure,” noted John Velez of Keller Williams Realty. While the statistics in Portland are not quite that high, John has developed an online report that reviews the increasing priority that major banks and the federal government have placed on giving homeowners viable options to foreclosure.
“Helping to keep homeowners out of foreclosure has become a national priority,” John says, adding, “it’s important for homeowners who are underwater on their mortgage or overstressed financially to know that none of the parties involved want to see a foreclosure happen. Banks were blindsided by the foreclosure crisis of the past few years, and too many homes have been lost to foreclosure, but the landscape has significantly changed.”
Several entities within the Federal Government, along with major lenders, have retooled and restaffed in order to more effectively help homeowners to avoid foreclosure.
“Among the most troubling statistics,” John pointed out, “is the fact that the majority of homeowners who end up in foreclosure never seek the services of a real estate agent or attempt a short sale.”
A short sale occurs when a lender allows a homeowner to sell a property for less than the current mortgage amount owed.
Real estate agents who have received the Certified Distressed Property Expert (CDPE) designation have proactively sought out the most up-to-date expertise and insights to serve clients within the complicated and highly charged distressed property arena. CDPE agents are required to complete several days of intensive training and are held to a high standard of expertise, efficiency and ethics.
“My recent report titled Is Your Mortgage Payment Dragging You Down, provides information every homeowner should know if they are about to or have already missed mortgage payments.” This community resource is available at http://AvoidForeclosureInOregon.com/