Last year, for every short sale completed, there were six REO (real estate owned) transactions.  That means the bank took the property to public auction and got the house back. 

Foreclosure is really, really horrible.  First, it knocks around 300 points off your credit score immediately.  And while the rules seem to say that it stays on your record for five years, in fact, a foreclosure never goes away.  One of the standard questions on any loan form ask if the applicant has ever had a property foreclosed on. 

Foreclosures can affect people's security clearances.  For many people, not only is their home at stake in a foreclosure action, but so is their livelihood. 

Worse, something over 60% of home owners whose homes were reposessed by the lender did nothing to try to stop the process.  I found this to be unacceptable.

Last week, I completed two-day, intensive training in distressed properties.  So many steps can be taken to keep out of foreclosure. A loan might be modified. A lender might be induced to offer forbearance. Finally, a property can be listed for short sale and the foreclosure stayed for a time.  That's what the training was about--learning how to accomplish these steps for people. 

The course was expensive but worth it.  Only a few agents receive the Certified Distressed Property Expert designation.

I was skeptical of one more seminar offering up the possibility of putting initials after my name that no one outside of real estate understood.  Look.  Everyone knows what "M.D." or "PhD." means.  But very few know what real estate initials stand for (or, once they do, care very much).

This one is different.  We Certified Distressed Property experts can help in ways I never understood.  If you know someone who is in a distrssed property situation, have him or her contact me immediately. I really can make a difference.