Feeling a little STRESSED!!

By
Managing Real Estate Broker with StoneWright Properties, LLC NCRE# 222153

I know a lot of people are stressing over the housing market.   I also know many who have had their home foreclosed or are on the brink of missing payments and considering the impact of not paying.   Most of the people I know in this situation find themselves feeling stressed and helpless.

As many of you know I love helping people with real estate, whether it is consulting with them on buying or selling or just making improvements to their homes or investments.   I must admit though that the current state of our housing market has been frustrating to me as there have been many friends and connections I have not been able to help as they where looking at the possibility of losing their home.

Over the last year I have been educating myself on options that home owners have to foreclosure.     Programs like HAMP, HAFA and the NC Foreclosure Prevention Fund.   Even with this knowledge I felt that there was something I was still missing that could help homeowners facing foreclosure....something that many said is hard and too time consuming,  SHORT SALES!

This past week I invested time in becoming a CDPE (Certified Distressed Property Expert)!   What is CDPE?

A Certified Distressed Property Expert® (CDPE) has a thorough understanding of complex issues in today’s turbulent real estate industry and knowledge of foreclosure avoidance options available to homeowners. CDPEs can provide solutions, specifically short sales, for homeowners facing market hardships.

People who are struggling to make their mortgage payment each month...they might be current today but it is only a matter of time before they become late.    Or a person who is already behind in their payments.    This is causing a lot of stress for home owners and most have no idea about what to do.    Many think that foreclosure is the only answer.

As a CDPE I want to provide assistance to  home owners so that they can navigate through all their options.     There are many to consider......In NC we have the NC Foreclosure Prevention Fund which many who are struggling should consider.  I have been able to refer several clients to this service and many have been able to stay in their home while they worked through whatever hardship caused them to get behind.

There are also programs like HAMP (Home Affordable Modification Program) and HAFA...

Watch this video to learn more on HAFA...click here

You can also find options at the Making Home Affordable website.

There are many options for help.  If you find yourself in this situation please seek the assistance of someone who can guide you.

Living the Good Life.....helping people make connections that really count!!

Comments (3)

Joyce Godwin, Realtor, CRS
RE/MAX Elite Properties; Serving Cypress, Spring, Tomball, NW Houston - Houston, TX
RE/MAX Elite Properties

Hi David, The one thing that amazes me, is that I rarely see that a foreclosed home was ever listed for rent.  I'm not sure about all markets, but here in the Houston area, we have a very healthy rental market.  I think so many homeowners could rent out their home before they get too far behind to catch up, and prevent a short sale or foreclosure by renting it out for a few years.  Although they may not want to be landlords, I think it's better than going through either a short sale or foreclosure.

Feb 17, 2012 11:13 PM
David H. Stone
StoneWright Properties, LLC - Mill Spring, NC
Making Connections that Count

Joyce,  I agree with you the rental market here is also very strong.   However, here is one issue I ran into last year....We put a clients home  up for rent and within 3 weeks the owner received a letter from their 2nd mortgage company stating that they could not rent their home due to terms in their mortgage.   I found this very odd, however, could not convince the seller/landlord to fight it with the mortgage company.

 

Feb 18, 2012 10:05 PM
Kerry Lucasse
eXp Realty - Urban Nest Real Estate Group - Atlanta, GA
Your Urban Nest Atlanta Real Estate Consultant

That's great that you've taken the time to educate yourself on all the different options available to homeowners.  I know that many of the programs are confusing to realtors, so I can't even imagine how a homeowner feels.  

Feb 20, 2012 01:11 PM