There are a myriad of ways that unforeseen hardships can change the joy of owning a home into an incredible burden. Maybe you've lost your job, or have unexpected medical bills beginning to pile up, or your monthly mortgage payments have increased beyond your current budget. No matter what the cause of your troubles, ignoring the problem won't help, it will only make it worse. You must act quickly to resolve the issue and avoid foreclosure.

One of the ways to avoid foreclosure, saving you incredible amounts of damage to your credit, is a short sale. There are many differences between a short sale and a foreclosure.  A short sale is an agreement in which your mortgage lender agrees to accept a payoff on the loan for less than the balance. Many lenders agree to a short sale because they receive more of the loan balance in comparison to the amount they would gain from selling the property following a foreclosure. This process also aids in maintaining home values in the community the property is located and helps the homeowner maintain a better level of credit compared to a foreclosure. In most instances, homeowners considering a short sale must meet specific criteria to qualify: you must be behind in your mortgage payments, provide evidence of economic hardship, and have little or no equity in the property.

A short sale is not a typical real estate transaction. Most real estate transactions involve the home seller and their real estate agent, the buyer and their lender, and their real estate agent. In a short sale situation, all of those parties in addition to the seller's loan servicer, a housing counselor, any junior lien holders, mortgage investors, and insurers may be involved too. A real estate agent like Paul Wheeler who has obtained the Certified Distressed Property Expert (CDPE) designation is uniquely qualified to help those interested in a short sale to avoid foreclosure.  Find out if you are eligible for a short sale.

Part of the CDPE designation coursework involves studying the process of short sales, once rarely accepted by lenders, but in today's world they are becoming an increasingly viable option. Although more common in recent years, lender's still want the right deal with the right paperwork, and most real estate agents without the CDPE designation do not know the specifics. The CDPE course has Paul Wheeler how to submit the proper documents to a variety of lenders and negotiation skills, allowing for quick resolve to a short sale. A CDPE's education is continual, as CDPEs from across the county gather information to provide the Distressed Property Institute a continual flow of new information to share with other CDPE designated agents.

Please feel free to contact Paul Wheeler at any time to discuss a short sale of your home to avoid foreclosure.

View our short video or visit our CDPE website to learn more.