I am a real estate investor – fix & flip, buy & hold and wholesale houses – and a licensed PA Realtor®, soon to be licensed in NJ too. I live and breathe real estate! If you ask my husband, I probably talk about this stuff way too much. So here is an outlet for me to talk about real estate without talking his ear off.
So, why do I love real estate?
Slipping toward foreclosure can lead to feelings of anxiety, depression and loss of self-esteem, but there are options available to help millions of homeowners rescue themselves from the brink. It is crucial to act before a foreclosure takes place, so moving quickly and working with an expert in the field is critical.
A homeowner is “short” when they owe an amount on the property that, when combined with closing costs and commissions, is higher than the current market value. A short sale occurs when a negotiation is entered with the homeowner’s mortgage company or companies to accept less than the full balance of the loan at closing. A buyer closes on the property and the property is sold “short”.
A foreclosure occurs when there is a legal proceeding by the lien holder in which they take back the property in order to recover the amount that is owed by the homeowner.
Homeowners regularly proceed without guidance of any kind through the often financially and emotionally devastating prospect of foreclosure. Speaking with a well-informed, licensed real estate professional is the best course of action for a homeowner in distress. Through comprehensive training and experience, CDPEs have the tools to help homeowners find the best solutions for their unique situations and to avoid foreclosure through the efficient execution of a short sale.