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Foreclosures on the Rise

by Jerry

According to the publication "Residential Specialist" one million foreclosures were filed in the first 5 months of 2009 and could reach 2.4 million by the end of the year. The Center for Responsible Lending (CRL), a nonprofit policy group, CRL estimates that these foreclosures could affect as many as 70 million nearby households and contribute to lost property values totaling $502 billion, or about $7,200 per family.

My goal as a Certified Distressed Property Expert (CDPE) is to help people to avoid Foreclosure either by Loan Modification or a Short Sale. If you know someone who may have a reduction of income or job loss or may have experienced time off work due to health issues or possibly some other valid reason for not being able to make a payment please contact me for a confidential meeting. I am here to help.

Certified Distressed Property Expert©

by Professional Realty Associates

Get Help for Your Home:

York County Realtor Becomes a Professional on Distressed Properties

 

Orlando, Fla.—In today’s market, more and more homeowners are finding themselves in financial distress due to real estate than ever before. If you are a homeowner in danger of losing your home, do not get discouraged—there are many options to get your finances back on the right track. That’s why Jerry Pilgrim, broker of Professional Realty Associates in York, recently became a Certified Distressed Property Expert © (CDPE) and a member of the Distressed Property Institute.

 

The CDPE designation is a nationally recognized certification given to agents who have dedicated their time and effort to understanding the issues distressed homeowners are facing. After taking multiple courses and training sessions, the agents are better equipped to deal with entering the distressed property market—REOs, short sales, preforeclosures and working with investors.

 

Foreclosure is a devastating financial and emotional process for a homeowner to go through, and in many cases they do so alone and without help. Homeowners who are in the preforeclosure process need to speak with an agent as quickly as possible. If you are a homeowner in distress, Jerry believes the best solution for homeowners is to seek the guidance, counsel and services of an educated and trained real estate agent. Homeowners no longer have to go it alone. Jerry has received the tools, information and tactics to effectively help homeowners through his certification from the Distressed Property Institute.

 

One of the first options a homeowner has to avoid foreclosure is a loan modification, or loan restructuring, which is simply a permanent change in one or more of the terms of the Home Financing loan. If a homeowner runs into temporary financial hardship, the next option is to negotiate for a loan forbearance, which reduces or delays payments for a short amount of time with the understanding that the account will eventually be brought to a current status.

 

While these two options do serve as practical alternatives to foreclosure, they still leave homeowners with the same burden of debt. The more favorable option, according to real estate experts, which considerably benefits both the homeowner and lender, is a Short Sale. A short sale is an agreement wherein the lender allows for the homeowner to sell the home at a price lower than the Home Financing-debt amount. The lender will then take the proceeds from the sale as a settlement for the mortgage debt. A short sale becomes a beneficial alternative when the homeowner’s mortgage debt is higher than the property’s value.

 

It’s a complicated market out there, but Jerry Pilgrim, a CDPE professional, is an agent who understands the full range of solutions and is ready to help. Distressed homeowners need an advocate like Jerry—who chose to set himself apart from other agents by receiving formal training to help homeowners in financial crisis.

 

If anyone would like more information about this topic or to schedule a meeting with Jerry Pilgrim, please call Professional Realty Associates at (717) 757-5955 or e-mail their request to [email protected]. www.YorkShortSales.com

Short Sale List

by Jerry

We can now provide you a list of all the current Homes for sale in york pa that are going to be a Short Sale or a Foreclosure even before theyare on the market! Go to: http://www.yorkpabankowned.com/

Foreclosures in York PA

by Jerry

Home buyers looking for great deals on Homes for sale in york pa that are bank owned (REO'S) or short sales can contact us for the latest property listings that we can pull from other bank sites as they come on the market or even before they go to Foreclosure. We would be happy to provide home buyers looking for foreclosures in York County PA. Contact us today for the list! Check us out at: http://www.yorkpabankowned.com/

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Photo of The Pilgrim Team Real Estate
The Pilgrim Team
Professional Realty Associates
16 Leader Heights Road
York PA 17403
Office: 717-757-5955
717-755-2683
Fax: 717-757-2887