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cdpe: What is a Short Sale - 05/28/09 10:32 PM
A Short Sale results when the homeowner sells their property, the net proceeds are insufficient to payoff the mortgage balance, yet the mortgage company agrees to accept less than the mortgage payoff amount in order to close the sale. All Short Sales are subject to mortgage company approval and require an extensive amount of work to reach a successful outcome.
There are no guarantees a Short Sale will be approved or ever close, but when the process has been professionally handled by a Realtor familiar with short sale transactions, preferably a CDPE (Certified Distressed Property Expert), the odds of success … (0 comments)

cdpe: What is a Certified Distressed Property Expert? - 05/12/09 09:57 PM
Before we can define what a Certified Distressed Property Expert is, we need to define what a “distressed property” is. A property can become distressed for a variety of reasons, but the most common is a foreclosure. In reality, any situation that has caused a property owner to have difficulty making mortgage payments or even selling the property is said to be in a distressed state. Simply put, any property which has the potential for a foreclosure is termed to be “distressed”.
Now that we have defined a distressed property, what is a Certified Distressed Property Expert (CDPE)? This is not … (0 comments)

cdpe: The Short Sale Challenge - 05/12/09 09:55 PM
What is a Short Sale? If the value of a property – less the costs of selling the property – falls below what the homeowner owes the mortgage company, the property is said to be “short”. If the homeowner wishes to sell, but does not have the cash to cover this shortage at closing, then the property could still close providing the mortgage company, or companies, are willing to negotiate a “Short Sale”.
Short sale scenarios have become quite common today, but successful negotiations to close them have not. In fact, only 20% of the short sales submitted to lenders … (0 comments)

 

Jeff Scislow, CRS - RE/MAX Results

Apple Valley, MN

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RE/MAX Results

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