Here is a cute animated video explaining how HAFA can provide homeowners solutions to foreclosure:

http://www.youtube.com/watch?v=8TXx8rKy-Ow

This video is produced by the same orgainization that I recived my Certified Distressed Property Expert® designation from. The Certified Distressed Property Institute is on the cutting edge of providing information and solutions for homeowners facing foreclsoure. The Institute has also been instrumental in providing the government recommendations for their new guidelines for pre-approved short sales, a quicker solution than a traditional short sale.


Will people who currently face foreclosure or short sales who walk away from their underwater properties ever be able to get financing to buy another home down the road?

Banks haven't been very forthcoming on this issue. However, knowledgeable observers of the situation say that while it may take some time, the situation will right itself for most people.

Because bankrupt owners have eliminated their debts, they should "constitute attractive fodder for mortgage lenders," says University of Michigan law professor John Pottow, whose specialty is bankruptcy.

As home prices and the mortgage market stabilize, lenders will be motiv®ated to lend to people who previously had financial troubles if they look like they can pay they next time around, says Alan Riegler, a consultant with CCG Catalyst, which advises banks.

"The lender who figures out how to do more of this case-by-case stuff cost-effectively is going to end up ahead of the pack," Riegler says.

SOURCE: Inman News, by Matt Carter (03/05/2010), as published by the NATIONAL ASSOCIATION OF REALTORS®


A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

But to be technical, here's a more official definition:

  • A homeowner is 'short' when the amount owed on his/her property is higher than current market value.
  • A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage.

For homeowners to qualify for a short sale, they must fall into all of the following circumstances:

  • Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
  • Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
  • Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

This seems simple enough, but it is a complicated process that takes the expertise of experienced professionals. Natalie Sweeney is a CDPE serving homeowners in Visalia, Tulare, Exeter, and the surrounding areas. Contact Natalie and together, you can identify all possible options and, when possible, a CDPE can assist you in the quick execution of a short sale transaction.

Source: Certified Distressed Property Institute


A CDPE, or Certified Distressed Property Expert®, is a real estate professional with specific understanding of the complex issues confronting the real estate industry, and the foreclosure avoidance options available to homeowners. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today's market, specifically short sales.

The prospect of foreclosure can be financially and emotionally devastating, and often homeowners proceed without guidance of any kind. The developers of the CDPE Designation believe that the best course of action for a homeowner in distress is to speak with a well=informed, licensed real estate professional. They have the tools needed to help homeowners find the best solutions for their situation. Often, when other options have been exhauseted, CDPEs can help homeowners avoid foreclosure through the efficient execution of a short sale.

While enduring financial difficulties is challenging for any family, the process of finding a qualified real estate professional should not be. Selecting an agent with the CDPE Designation ensures you are dealing with a professional trained to address your specific needs. For more information contact a CDPE in your area. If you are located in the Visalia, Tulare, Exeter and surrounding areas you can contact Natalie Sweeney, REALTOR® and CDPE. She can also introduce you to a CDPE if you are located in another area of the United States. 


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

SOURCE Certified Distressed Property Institute