April 18, 2024 #1 Local News, Information and Event Source for the Century City/Westwood areas.

IS TIME RUNNING OUT?

JONI ROUNTREE of REMAX WESTSIDE PROPERTIES IN SANTA MONICA has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed†homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though 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.

On the Westside, many homes are in danger of foreclosing. It is happening in all price ranges. Local experts say that even high-priced homes are not immune.

“This CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales,†said REALTOR ROUNTREE. “It is so rewarding to be able to help sellers save their homes from foreclosure.â€

Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as JONI ROUNTREE with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience, he said.

The Distressed Property Institute opened in January 2008 and provides training on-site and online. The CDPE is the premier designation for Realtors helping homeowners in distress and handling short sales.

“Our goal is to educate as many people as possible so we can help as many homeowners as possible,†Charfen said.

For more information about what qualifies as a distressed property and what your options may be please call 310-821-7763.

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