Certified Distressed Property Expert --- CDPE Short Sale Expert

Certified Distressed Property Expert --- CDPE

Recently I’ve been hearing about a new Realtor designation that many Realtor professionals have recommend as a must have in today’s market. The designation called Certified Distressed Property Expert or CDPE is an in-depth course on identifying and helping homeowners who are in trouble with their mortgages. The course covers the many strategies needed to help homeowners before a bank forecloses on their home and damages homeowners credit and lives. There were several very big points that I took from yesterday’s first class;

1. 7 out of 10 homeowners go into foreclosures without visible intervention!
2. There are 6,759,049 distressed homeowners in the US.
3. Subprime mortgages amounted to over 20% of all loans in most regions. Richmond Va is one of the top city’s nationwide with over 23% of all loans being subprime.
4. The majority of subprime loans will begin to reset in the next 2 to 4 years. That’s right you read that correctly. There could be another spike in foreclosures unless Realtors start helping homeowners now!

So far this has been an eye opening first day. This course covers not just the nuts and bolts on how to work with a lender on a homeowner’s behalf but also the emotional side of home loss. As a Realtor working in the ever booming Ashburn/Leesburg, Northern Va areas I have worked with many very good hard working families who have lost their home to foreclosure because no one was able to help them. I have listed many homes for sale as short sales and have even put offers to buy on many others and have found the experience frustrating and confusing. So far this course seems to be addressing a lot of my unanswered questions as to why there is so much inconsistencies within the different lenders and banks.

Stay tuned for more updates to come!!!

Chuck