It’s funny how when we’re not feeling well, we know to go to a doctor who’s a general practitioner. When we need open heart surgery, however, we also know we need to find a specialist.
Specialists study the nuances of a specific part of an industry; whether it be a cardiologist who becomes an expert in human hearts, or a Realtor who specializes in a neighborhood or type of property.
I’ve specialized in listing and selling duplexes and small multi-family properties for several years. And as a result of that constant learning, I recently became painfully aware of a trend I see in the months and years to come.
The resetting of the Option ARM and interest-only loans some duplex owners used to purchase or refinance their properties four or five years ago is causing many to see doubling and tripling of their mortgage payments. As very few people can adjust to that kind of radical increase in payments, they fall behind and face the threat of foreclosure.
Duplex owners do have options besides foreclosure, including mortgage modifications, reinstatement, forbearance and short sales.
And for many, short sales have become the best option to escape the blemish of foreclosure.
The trouble is, most of today’s working Realtors didn’t learn about short sales in real estate school. And for many, the process is so complicated and cloudy they prefer to avoid the endeavor altogether.
Part of the reason I became a Realtor was so I could help peoples dreams come true. And now I realize I can be of the greatest service to many by helping end the nightmare of foreclosure.
That’s why I became a Certified Distressed Property Expert or CDPE.
A CDPE is a real estate agent with special training in the complex issues that confront duplex owners in distress. Whether a property owner needs help with a short sale, mortgage modification, or any of the other complexities involved in being “under water”, behind in mortgage payments, or facing foreclosure, CDPEs have the necessary tools to help solve the problem and, more importantly, reduce the stress that accompanies it.
Call or email me if you’re worried about losing your property. I’m confident that together we can find a way to solve the probelm and make the pain go away.