Avoid Foreclosure
What is a short sale?
A short sale occurs when a homeowner owes a mortgage company more than the market value of the home. A sale is considered “short” when the homeowner’s mortgage company agrees to accept a sale price less than the amount of the loan balance.
A foreclosure begins when a homeowner defaults on a loan and the mortgage company files a public default notice. The lender takes possession of the property securing the loan in order to recover the amount of money that is owed.
What is foreclosure?
Cheryl Scott-Daniels is a Certified Distressed Property Expert (CDPE). She has earned this prestigious designation, after 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.
As a CDPE, Cheryl can confidently guide home sellers through a short sale process to avoid foreclosure. In fact, on average, CDPEs are able to keep homeowners in their home more than twice as often as losing properties to foreclosure. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.
This CDPE designation has been invaluable as Cheryl works with home sellers and lenders on complicated short sales. It is so rewarding to be able to help sellers save their homes from foreclosure. Please contact Cheryl for more information on how she can help you stay in your home and avoid the devastating effects of foreclosure.
Mortgage Delinquencies- National Numbers All Mortgages: 4.30% in Foreclosure 8.86% in Default 13.16% Total Prime Mortgages: 3.00% in Foreclosure 6.41% in Default 9.41%Total Subprime Mortgages: 15.05% in Foreclosure 25.35% in Default 40.40% Total FHA Mortgages: 2.98% in 42% in Foreclosure 14.42% in Default 17.40% Total VA Mortgages: 2.07% in Foreclosure 8.06% in Default 10.13% Total Mortgage Bankers Association National Delinquency Survey http://www.mortgagebankers.org/NewsandMedia/PressCenter/70050.htm Based on 45,000,000 mortgages - Seasonally Adjusted
