Underwater Homeowner Assistance

John Mazzara Earns Real Estate, Short Sale and other distressed property Designations to Help Homeowners in Danger of Foreclosure

Online PR News – 13-April-2010 – – Edina, MN – 4-5-2010 – John Mazzara of RE/MAX Associates Plus in Edina has earned the prestigious Certified Distressed Property Expert® (CDPE) designation, having completed extensive training in foreclosure avoidance, with a particular emphasis on short sales. John, with his website at MinneapolisStPaulHomes.com, also has completed the RDCPro™ (REO Default Certified Professional) and FSP (Five Star Professional) designation. These two additional designations provide additional expertise in dealing with defaulted property that has been taken back by the lender. At a time when millions of homeowners are struggling with the possibility of foreclosure, the skills and education amassed by Mazzara will help benefit Twin Cities-area residents and communities.

Short sales allow the distressed homeowner to repay the mortgage at the price that the home sells for, even if 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. Today, the HAFA (Home Affordable Foreclosure Alternative) was just announced. This new program is a part of HAMP (Home Affordable Modification) and aids eligible homeowners by pre-approving short sales before listing and releasing them from the first mortgage debt. This WILL help the housing market.

Today, more than 15 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.

“The CDPE designation has been invaluable as I work with homeowners and lenders on complicated short sales,” said Mazzara. “It is so rewarding to be able to help families save their homes from foreclosure. There are options that need to be explored.”

Alex Charfen, co-founder and CEO of the Distressed Property Institute in Austin, Texas, said that agents such as John Mazzara 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 possible, by educating as many real estate professionals as possible,” Charfen said. “John Mazzara has demonstrated a commitment to struggling homeowners, a commitment that can provide much-needed stabilization to the community.”

For more information about CDPE Designation, visit www.cdpe.com.

John Mazzara