Kenny Rogers of Coldwell Banker Bain earned the Certified Distressed Property Expert designation for completing extensive training in foreclosure avoidance, with a particular emphasis on short sales.
At a time when millions of homeowners are struggling with the possibility of foreclosure, the skills and education amassed by Rogers will help benefit area residents and communities.
“The CDPe designation has been invaluable as I work with homeowners and lender on complicated short sales,” Rogers said. “It is so rewarding to help families save their homes from foreclosure.”
Short sales allow the distressed homeowner to repay the mortgage at the price that the home sells for, even if it was lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.
Today, more than 13 percent of homeowners are delinquent on their mortgage or in the foreclosure process. This is occurring across all price ranges, and the fastest-growing category of homes in foreclosure is the luxury home market, according to a Coldwell Banker Bain spokesperson.
Alex Charfen, co-founder and CEO of the Distressed Property Institute in Austin, Texas, said that agents such as Kenny Rogers with the CDPE Designation have valuable perspective on the market and training in short sales that can offer homeowners real alternatives to foreclosure, which can be devastating to credit ratings.
“These experts better understand market conditions than the average agent and can help sellers through the complications of foreclosure avoidance,” he said.
The Distressed Property Institute provides live and online courses to train real estate professionals how to help homeowners in distress, with a strong focus on handling short sales.
“Our goal is to help as many homeowners as much as possible, by educating as many real estate professionals,” Charfen said. “Kenny has demonstrated a commitment to struggling homeowners, which is a commitment that can provide much-needed stabilization to the community.”
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