Real Estate Information Archive


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Stopping Foreclosures in York PA One Homeowner at a Time

by The Pilgrim Team

FOR IMMEDIATE RELEASE                         

For more information, please contact: 

                                                                                                                              Jerry Pilgrim

                                                                                                                   [email protected]


Local Agent Takes a Stance Against Strategic Default


Online report outlines the realities of “strategic default”—or walking away from a Home Financing—and provides solutions for homeowners struggling to make mortgage payments in York County, PA.

York, PA -  Local CDPE-designated agent, Jerry Pilgrim of Professional Realty Associates, has developed a website report providing information regarding the truth about a Home Financing trend called “strategic default,” where homeowners walk away from their Home Loans.


“There is a growing trend of distressed homeowners who have heard that a strategic default may be their best option,” Pilgrim said.  “With this report, I’m showing homeowners that there are alternatives to Foreclosure that can actually help them move on to a more stable financial future, rather than further damaging their credit, security clearance, or current or future employment.”


This community resource is available at and explains the benefits of short sales, or selling a property for less than the current Home Financing amount owed. Benefits include less damage to credit scores, and the ability to qualify for a future mortgage more quickly.


In a recent study, the Chicago Booth/Kellogg School Financial Trust Index estimated that 36 percent of Americans would consider walking away from their Home Financing if they were “underwater,” or owed more than the property was worth. Now that one in four Americans is currently underwater, Pilgrim sees the need for greater education.


“Individual homeowners as well as our entire community would suffer the consequences of strategic default,” Pilgrim said. “I can share solutions and alternatives that can help preserve the financial stability of distressed homeowners and the values of our neighborhoods.”


The CDPE Designation Pilgrim has acquired provides a specific understanding of the complex issues confronting distressed homeowners.  Through comprehensive training and experience, CDPE-designated agents are able to provide solutions for homeowners facing financial hardship in today’s market.


To learn more, visit

For more information about the CDPE Designation, visit www.


IMPORTANT GOVERNMENT DISCLOSURE: You may stop doing business with us at any time. You may accept or reject the offer of Home Financing assistance we obtain from your lender (or servicer). If you reject the offer, you will not have to pay us for our services. The above brokerage is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.

Distressed Property Institute Stands Firmly Against Real Estate Fraud

by The Pilgrim Team

© Copyright The Distressed Property Institute, LLC April 2010 Originally Published: July, 17, 2009

Updated: April 12, 2010

The Distressed Property Institute, LLC assumes no responsibility nor guarantees the accuracy of this document. The

Distressed Property Institute, LLC is not engaged in the practice of law nor gives legal advice. It is strongly recommended

that you seek appropriate professional counsel regarding your rights as a homeowner.

Distressed Property Institute Stands Firmly Against Real Estate Fraud

Industry-leading organization publishes statements regarding Home Financing modification scams, short

sale flips, and other forms of fraud in the real estate industry.

The Distressed Property Institute, the premier organization educating real estate professionals on

how to help homeowners avoid Foreclosure, is officially positioned against fraud in the real estate

industry, specifically as it pertains to Home Financing modification scams, Short Sale flips and options


“It is the firm stance of the Distressed Property Institute that fraudulent behavior perpetrated

against homeowners is deplorable, and there is no excuse for these actions, whether personal,

financial or otherwise,” said Alex Charfen, co-founder and CEO of the Institute. “The number

alleged cases of fraud against American homeowners is increasing, and in some areas arrests

are on the rise. We support the efforts of our administration and law enforcement to crack down

on these predatory practices.”

In 2009, the U.S. Treasury, U.S. Department of Justice, Federal Bureau of Investigation and

Federal Trade Commission issued statements affirming their unified stance on these issues:

U.S. Department of Justice and U.S. Treasury Department

Press Release: April 6, 2009 – Federal, State Partners Announce Multi-Agency

Crackdown Targeting Foreclosure Rescue Scams, Loan Modification Fraud

“This administration is deeply committed not just to providing at-risk homeowners with

assistance but also to cracking down on anyone who seeks to defraud them. … [The]

Treasury is also issuing an advisory alerting financial institutions to the risks of emerging

schemes related to loan modifications. The advisory identifies certain ‘red flags’ that may

indicate a loan modification or foreclosure rescue scam … Examples of possible signs of

fraudulent activity, such as requiring that fees be paid before services are provided, are

listed in the advisory.”


Federal Bureau of Investigation

Press Release: July 7, 2009 – FBI Issues

Home Financing fraud hurts borrowers, financial institutions, and legitimate homeowners. …

The FBI, in conjunction with our law enforcement, regulatory, and industry partners,

continues to diligently pursue perpetrators of Home Financing fraud schemes.”

2008 Home Financing Fraud Reportii

Federal Trade Commission

Press Release: July 15, 2009 – Federal and State Agencies Target Home Financing

Foreclosure Rescue and Loan Modification Scams

“People facing foreclosure should avoid any company or individual that requires a fee in

advance, guarantees to stop a foreclosure or modify a loan, or advises the homeowner to

stop paying the Home Financing company.”


Freddie Mac

April 12, 2010 – Emerging Fraud Trends: Short Payoff Fraud

“Given increased defaults and declining property values in certain locations, the

Home Financing industry is experiencing an increase in short payoffs, sometimes called short

© Copyright The Distressed Property Institute, LLC April 2010 Originally Published: July, 17, 2009

Updated: April 12, 2010

The Distressed Property Institute, LLC assumes no responsibility nor guarantees the accuracy of this document. The

Distressed Property Institute, LLC is not engaged in the practice of law nor gives legal advice. It is strongly recommended

that you seek appropriate professional counsel regarding your rights as a homeowner.

sales. In fact, over the last two years, short payoff volume at Freddie Mac has grown

more than 1,000 percent (2007-2009). This upward trend in volume leaves the market

ripe for incidences of short payoff fraud.”


Addressing its membership organization of more than 22,500 real estate professionals

nationwide, the Institute has distributed this official statement among its members.

“Fear should not drive us to act ethically. The current market conditions have provided us with an

unprecedented privilege to help struggling homeowners like no other time we’ve seen. These

challenges are actually opportunities for us to become better agents, better citizens, and better


“Now more than ever, it is our personal responsibility to conduct our businesses and ourselves

with utmost integrity; this has never been more vital to the success of the real estate industry, the

recovery of our country, and to homeowners in need.

“We applaud the efforts of the branches of the U.S. government to stamp out this rampant fraud,

and have aligned the Institute with this goal. We will not tolerate the abuse and predatory actions

committed upon the most vulnerable homeowners.”

Following is the Institute’s policy on fraudulent behavior as it pertains to Home Financing modifications

and short sale flips:

I. Home Financing Modification Fraud

It is the policy of the Distressed Property Institute not to educate or train students on

the process of facilitating a Home Financing modification, beyond directing agents to have

clients (homeowners) contact their lenders if a modification appears to be an option,

and providing general information on Home Financing modifications so homeowners can

effectively contact lenders and pursue this option.

The Institute does not support, nor does it condone, the practice of agents accepting

a fee for the service of facilitating a Home Financing modification, even if there is a promise

to refund the fee if the service expectation is not met. Our official stance is that this

practice constitutes fraud, which is in line with statements made by the U.S. Treasury


II. Short Sale Flip (and Options Contracts) Fraud

It is the policy of the Distressed Property Institute not to educate or train students on

the process of flipping short sale properties beyond providing a severe warning,

which includes a basic overview of this process and detailed information on how to

avoid unknowingly participating in fraudulent activity.

The Institute does not support, nor does it condone, the practice of flipping short sale

properties due to the potential illegalities and blatant unethical nature of these

transactions. We do make an exception in the case of rehabilitation projects –

however, this process involves providing a measureable service to improve the

condition of the property, and is different than the standard short sale flip.

“The Distressed Property Institute seeks to train agents on how to find the best solution for each

individual homeowner,” Charfen said. “Agents who charge a fee for a service they’re not licensed

or adequately trained to provide, and which the government has identified as fraudulent, cannot

be tolerated.

© Copyright The Distressed Property Institute, LLC April 2010 Originally Published: July, 17, 2009

Updated: April 12, 2010

The Distressed Property Institute, LLC assumes no responsibility nor guarantees the accuracy of this document. The

Distressed Property Institute, LLC is not engaged in the practice of law nor gives legal advice. It is strongly recommended

that you seek appropriate professional counsel regarding your rights as a homeowner.

“Additionally, agents or investors who misrepresent the true value of a short sale property, or

participate in less than full-disclosure with the lender, are participating in fraudulent activity.

These practices are not in line with our core values.”

About the Distressed Property Institute, LLC

The Distressed Property Institute trains real estate professionals to engage with and assist

homeowners facing hardships. The Institute has developed a curriculum to provide the tools and

knowledge to handle distressed properties, including short sales, deeds-in-lieu, Home Financing

modifications, forbearance, refinances, reinstatements, government programs or other options.

After completing a comprehensive live or online course, graduates are awarded the Certified

Distressed Property Expert

® Designation.

About the CDPE Designation

The CDPE Designation provides real estate industry professionals with detailed information on

how to engage with and assist homeowners in distress. The CDPE designation has been

endorsed by RE/MAX International, Keller Williams Realty and other major U.S. brokerages, as

well as industry icons such as: Dave Liniger, chairman and co-founder of RE/MAX; Allen Chiang,

Chairman of the Asian Real Estate Association of America (AREAA); Steve de Laveaga, Senior

Vice President of Fidelity National Title; and Tino Diaz, Chairman and President of the National

Association of Hispanic Real Estate Professionals (NAHREP).

For more information about the Distressed Property Institute and the CDPE Designation, visit





Investment Property, York PA

by The Pilgrim Team

With college starting back up it could be time to consider buying an Real Estate Investment property for your child to live in rather than paying for a dorm room. With interest rates being so low it makes sense to invest in something that you can later sell or hold onto as a rental property rather than pay rent for a room.

York College, Penn State York, Gettysburg College, HACC, and York Technical Institute are some of the campuses nearby.

Pilgrim Team can help you find just the right property that could work for you. Contact us to discuss this opportunity further.

Fannie Mae and Strategic Defaults

by The Pilgrim Team


Homeowners across the country and here in York, PA are hearing about the so called advantages of walking away form their financial obligation (Home Financing) on their home. Fannie mae has decided that they will not take this lightly when a homeowner has the ability to pay their mortgage, yet deciides not to. Fannie Mae announced they will not allow a homeowner to be eligible for a Fannie Mae backed loan for at least 7 years. They also have said that if a state that allows a deficiency judgement (Pennsylvania does) they will do just that. Fannie Mae is letting homeowners know they will not take this lightly and pursue a claim against these homwowners.

Think twice about how this can adversely affect their ability to get new credit and also could cause an potential or even a existing employer to hire or retain that person due to the Foreclosure and judgement on the credit report.


Strategic Foreclosue?

by The Pilgrim Team

What is a "strategic Foreclosure"?  There has been a lot of talk lately on the news networks such as ABC, NBC, CBS, FOX News, MSNBC and others about these types of forclosures. I have heard the talk that if it is ggod enough for corporate america to walk away from the financial obigations it should be good enough for the private sector to do the same.

Think of it like this, and ask yourself these questions.  Does the corporation have a family to feed? Does the corporation need a place to live? Does it need to have credit in the future to buy a house or even rent an apartment? Does it need a job? If you need any or all of these things STAY AWAY from the idea of a Strategic Foreclosure. They entice you to milk the system for all it can give you at the time, but remember payback can come back to hit you in a big way.

The only good foreclosue is NO foreclosure. You need an expert with the experience like a CDPE (Certified Distressed Property Expert) who can work closely with the Banks to negotiate a settlement that will not adversely affect you for a very long time such as a foreclosure can. Please go to my web site and seach for my CDPE site for additional information that can help you or someone you may know who is struggling with the possibility of foreclosure.

Strategic Foreclosures?

by The Pilgrim Team

Recently there has been some talk about "strategic foreclosures". Unfortunately there have been some individuals promoting to people who are in financial distress and don't know where to turn when they have fallen behind in their Home Financing payments. They have taken the stand that it is O.K. to just walk away and never look behind them for the consequences that come with such a move.

Just last week Good Morning America had a special about walking away form your commitment. The analogy they used was that if it is good enough for corporate America to do so, it is O.K. for the average homeowner too. It was totally irresponsible reporting and they should be taken to task to promote such a terrible injustice to the public. They did not mention what consequences there are to individuals who actually must work and maintain households, credit ratings and personal reputations if they allow a Foreclosure to happen. Obviously they did not realize or even care that with that type of reporting people could be jeopardizing their financial futures including holding on to the job they currently have or a job in the future. Corporations don't have to think about those things as it not part of the business world. So yes, corporations do that sometimes but with different consequences.

Please don't consider a Strategic Foreclosure as you might not be happy what you may end up with. Call me today for a confidential interview and we can set the record straight and get you on the right financial path.

Foreclosure Market Trends

by The Pilgrim Team

Phone: 717-757-5955x101

| Email: [email protected]

Jerry Pilgrim

Professional Realty Associates

3921 E Market St

York, PA 17402

I am a Certified Distressed Property Expert and I pride myself as the local expert on buying or selling distressed Homes for sale in york pa in York County. Contact me for a confidential meeting to assist you.

January 2010

Vol. 4, Issue 3

6 month National Foreclosure Trends




A total of 2,824,674 U.S. properties in received a foreclosure filing in 2009, a 21 percent increase in total properties from 2008 and a 120 percent increase in total properties from 2007, according to the RealtyTrac Year- End 2009 U.S. Foreclosure Market Report. The report also shows that 2.21 percent of all U.S. housing units (one in 45) received at least one foreclosure filing during the year, up from 1.84 percent in 2008, 1.03 percent in 2007 and0.58 percent in 2006. Foreclosure filings were reported on 349,519 U.S. properties in December and foreclosureactivity in the fourth quarter decreased 7 percent from the third quarter.

The latest idea bubbling up in the world of real estate is the use of principal reductions to stem the foreclosure tide, the theory being that if we lower Home Financing balances then homeowners will have smaller monthly payments and fewer foreclosures. Truth is, the only reason lenders will reduce principal balances is when it's to their advantage. Reducing principal balances will instantly produce big and hideous losses, something Lenders don't want but something lenders will accept if the probability of even bigger and more hideous losses from short sales and foreclosures can be avoided.

Will Principal Cuts Reduce Foreclosures?

Here are some of the most recent Real Estate Investment opportunities in the area.

Property Type Address Market Value Default Sq. Ft.


Airville, PA 17302



Delta Rd,$15,000 N/A 1,381

Auction Date: 2/8/10




Auction Dillsburg, PA 17019 Old Mill Rd,$78,140 N/A 2,127 Pine St Dillsburg PA, 17019 Market Value $126,040 Beds/Bath 3/1

Default Amount




Sq. FT









NODs 88,790 0 0  NTSs160,660 0 0  FSs65,922 3,202 94




132,813 3,640 244




152,008 2,724 112

Faster Sales Coming For Foreclosure Buyers

Foreclosure buyers got a Christmas Eve goodie from Fannie Mae, a new strategy that's likely to make foreclosure purchasing very much quicker. The catch? A bunch of lenders are about to be very unhappy. With the growing number of distressed properties there's now a substantial “foreclosure discount” in most markets. What were once tolerable and controlled losses are today steep and sharp declines that leave lender red ink everywhere. The question for loan owners is this: Is there anyway to make such lender losses smaller? The answer, as we shall see, turns out to be good news for foreclosure buyers.

For More information on available foreclosures or short sales go to:

Searching for York PA Foreclosures?

by The Pilgrim Team

If you are searching for Bank Owner Property (REO'S) we offer a free list of foreclosures and also pre-foreclosures of real estate in York County PA. Go to our web site or our link at for your list. We have agents who are experienced with this type of property and who are trained in dealing with lenders so we may be able to get you the best deal possible. Contact Pilgrim Team at Professional Realty Associates.

Displaying blog entries 1-8 of 8




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Contact Information

Photo of The Pilgrim Team Real Estate
The Pilgrim Team
Professional Realty Associates
2002 S Queen St, Suite 3
York PA 17403
Office: 717-757-5955
Fax: 717-757-2887