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What is a CDPE?

A Certified Distressed Property Expert® is a real estate professional with specific understanding of the complex issues confronting the real estate industry, and the foreclosure avoidance options available to homeowners. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today’s market, specifically short sales.

The prospect of foreclosure can be financially and emotionally devastating, and often homeowners proceed without guidance of any kind. The developers of the CDPE Designation believe that the best course of action for a homeowner in distress is to speak with a well-informed, licensed real estate professional. They have the tools needed to help homeowners find the best solution for their situation. Often, when other options have been exhausted, CDPEs can help homeowners avoid foreclosure through the efficient execution of a short sale.

While enduring financial difficulties is challenging for any family, the process of finding a qualified real estate professional should not be. Selecting an agent with the CDPE Designation ensures you are dealing with a professional trained to address your specific needs.

CDPEs don’t merely assist in selling properties, they serve and help save their clients in need.

Press Release

FOR RELEASE: IMMEDIATE

For more information, please contact:
Quinn DeCosta
702.327.3828
qdecosta@kw.com
www.quintessentialproperties.com

Quinn DeCosta Earns Prestigious Designation to Help Homeowners in Danger of Foreclosure

Las Vegas, Nevada – March 1, 2010 – Quinn DeCosta of Keller Williams Realty Southern Nevada in Henderson has earned the prestigious Certified Distressed Property Expert® (CDPE) designation, having completed extensive training in foreclosure avoidance, with a particular emphasis on short sales. At a time when millions of homeowners are struggling with the possibility of foreclosure, the skills and education accumulated by DeCosta will help benefit Las Vegas-area residents and communities.

Short sales allow the distressed homeowner to repay the mortgage at the price that the home sells for, even if it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

Today, more than 13 percent of homeowners are delinquent on their mortgage or in the foreclosure process. This is occurring across all price ranges, and the fastest-growing category of homes in foreclosure is the luxury home market.

The CDPE designation has been invaluable as I work with homeowners and lenders on complicated short sales,” said DeCosta. “It is so rewarding to be able to help families save their homes from foreclosure.”

Alex Charfen, co-founder and CEO of the Distressed Property Institute in Austin, Texas, said that agents such as Quinn DeCosta with the CDPE Designation have valuable perspective on the market, and training in short sales that can offer homeowners real alternatives to foreclosure, which can be devastating to credit ratings.

These experts better understand market conditions than the average agent, and can help sellers through the complications of foreclosure avoidance,” he said.

The Distressed Property Institute provides live and online courses to train real estate professionals how to help homeowners in distress, with a particular emphasis on handling short sales.

“Our goal is to help as many homeowners as possible, by educating as many real estate professionals as possible,” Charfen said. “Quinn DeCosta has demonstrated a commitment to the struggling homeowners, and will provide much-needed assistance in stabilizing the community.”


Short Sale vs. Foreclosure, Part 1

Short Sale vs. Foreclosure, Part 1

Short Sale vs. Foreclosure, Part 2

Short Sale vs. Foreclosure, Part 2

Sample Hardship Letter

Date:
Lender:
Attn: Loss Mitigation

RE: Hardship Letter - (Property Address)
Account Number


To Whom It May Concern:

I purchased my home in 2004 and we had the income at the time to support the mortgage.

In early 2006, my mother was diagnosed with Alzheimer's Disease and needed to be put in a nursing home which was very expensive. She later passed away in November 2006 and my husband lost his job and has since taken a significance cut in pay. We love our home and do not want to lose it but we have come to terms with the fact that we cannot afford to keep it.

This left me with the financial burden of paying the mortgage. I make $35,000 annually and I have exhausted all of my savings, IRAs and my children's college funds, which I used to keep the mortgage payments current until May 2007.

In May 2007, I was no longer able to make payments and inquired about partial payments, payment plans, and refinance; I was denied on all accounts. In July 2007, I put the house up for sale with Quinn DeCosta at Keller Williams Southern Nevada who specializes in pre-foreclosure properties and short sales.

My financial situation cannot sustain a home mortgage of nearly $2800 per month. I want to sell the home, avoid foreclosure and salvage my credit. I know that a foreclosure on my record will affect me for years to come, I would ask that you please assist me in avoiding this.

Since the house has been on the market this is the only offer that we have received. Please accept this offer as payment in full. My agent will continue to market the house.

I deeply appreciate your help and understanding in this matter. If you have any questions, or need anything further from me, please contact my agent or me personally.

Sincerely,

Jane Seller