This CDPE designation has been invaluable as we work with sellers, and their lenders on complicated short sales
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(PRWEB) January 5, 2009
Bonnie and Jim Cox, TEAMCOX of RE/MAX Masters, 6400 S. Fiddler's Green Circle, Greenwood Village, CO., have earned the prestigious Certified Distressed Property Expert (CDPE) designation, having recently completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when many area home values are affected by 'distressed' homes in the foreclosure process.
Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed to the lender. The lender also will agree to absorb real estate fees and closing costs so that the homeowner can sell the home and receive a satisfaction of lien at closing. With plummeting property values, this can save many people from foreclosure or bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.
In the metro Denver area, many homes are in danger of foreclosing. It is happening in all price ranges. Even high-priced homes are no longer immune.
"This CDPE designation has been invaluable as we work with sellers, and their lenders on complicated short sales," said Bonnie Cox. "It is very rewarding to be able to help sellers save their homes from foreclosure."
Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as TEAMCOX with 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. TEAMCOX has a critical understanding of the market conditions and the tools and documentation necessary to help sellers through this emotional experience.
The Distressed Property Institute opened in January 2008 and provides training on-site and online. The CDPE is the premier designation for Realtors helping homeowners in distress and handling short sales.
"Our goal is to educate as many people as possible so we can help as many homeowners as possible," Charfen said.
For more information about the CDPE designation or to find out more information, call 1-410-814-2404. Sellers are advised to obtain legal advice regarding the advisability and terms of any short sale agreement with creditor(s) and professional tax advice regarding tax implications of a sale.