Community

Alternative to Foreclosure

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Nationwide, 10.9 million or 22.5 percent of all homeowners with a mortgage owe more on their property than its worth in the current market and another 6.3 million are in some stage of foreclosure.   Long-term implications of foreclosure cannot be underestimated.  Too often, the anxiety associated with missed mortgage payments and the fear of putting trust into the wrong hands, causes homeowners who are heading toward foreclosure to avoid seeking help or pursuing a short sale.
 
A short sale occurs when the current market value of a home is worth less than what is owed on a mortgage and a real estate agent negotiates with the lender on behalf of a financially strapped homeowner to accept a loan payoff that is less than the amount owed.  While lenders were once reluctant to negotiate short sales, the current glut of foreclosed properties on their books has prompted an aggressive push to mitigate losses, and some are even paying homeowners incentives to make a fresh start on their lives after the close of the short sale.  
 
Real estate agents who have received the Certified Distressed Property Expert (CDPE) designation have proactively sought out the real estate industry’s best training for serving clients within the complicated and highly charged distressed property arena. CDPE agents are required to complete intensive training and are held to a high standard of expertise, efficiency and ethics.  
 
Kelly Sullivan- Realtor®, CDPE
225-279-1201
www.Kelly-Sullivan.net
RE/MAX First, 225-291-1234
4750 Sherwood Common Blvd.
Baton Rouge, LA  70816
 
Disclaimer:  The above brokerage and/or Realtor assumes no responsibility nor guarantees the accuracy of this information and is not engaged in the practice of law nor gives legal advice.  It is strongly recommended that you seek appropriate professional counsel regarding your rights as a homeowner. The above brokerage is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
 

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