1. A Property that is in poor physical condition.
   
2. A Property that is or will soon be in some stage of the foreclosure process.
   
3. A Property owned by a person or persons who are experiencing a period of financial instability.
   
4. A Property on which the mortgages total an amount higher than the current value and the owner must sell.

Why did I recently earn the designation of CDPE, or Certified Distressed Property Expert?  In a nutshell, to help San Diego homeowners who are in danger of foreclosure, to help with foreclosure avoidance, and to take to successfully complete short sales.

In San Diego-during just since February, 23,000 homes went into pre-foreclosure or foreclosure status. On a national level, during the month of May 2009, a record 1 million new foreclosures were filed. It is happening in all price ranges. Local experts say that even high-priced homes are not immune.

If you are behind—or soon will be—on your mortgage payments due to a change in job status or other financial dilemma, you are not alone. The number of foreclosure filings nationwide rose 81% between 2007 and 2008 to 2.3 million, according to RealtyTrac. And with interest rates ready to reset on the next wave of questionable mortgages, foreclosure numbers are expected to rise even higher.

But don’t despair! There are options worth pursuing for those facing possible foreclosure. Many banks, for example, offer loan modifications or other programs that will give you a little more breathing room.

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.

A Certified Distressed Property Expert® (CDPE) is a real estate professional with specific understanding of the forces at work in the real estate economy of 2009. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today’s market.

The prospect of foreclosure can be financially and emotionally devastating, and often homeowners proceed without guidance of any kind.   If you are having trouble making your mortgage payments, or know your home is worth less than your mortgage and you want or need to sell, your best course of action is to speak with a well-informed, licensed real estate professional, like myself, Don Pelletier.  I have the tools needed to help you find the best solution for your situation.

CDPEs don’t merely assist in selling properties, they serve and help save their clients in need.