Local Agent Provides Solutions to (SWFL/Fort Myers Area) Homeowners Affected by Foreclosure Freeze

Nov. 14, 2010 - PRLog -- Fort Myers, FL –  As Ally Financial, Bank of America and JPMorgan Chase review their foreclosure processes across the country, CDPE-designated agent, Nedy Blanchard of Adelphi Realty Team, helps local homeowners understand alternatives to their distressed situations.

“There is a common misconception among homeowners that the so-called foreclosure freezes translate into a ‘get-out-of-my-mortgage-free’ card. This simply isn’t so,” Blanchard said. “It is vital for homeowners facing foreclosure to understand that there are other, more beneficial options, including short sales.”

A short sale occurs when the lien holder accepts the sale price of a property that is less than the borrower’s mortgage balance. Short sales have become an increasingly utilized alternative to foreclosure, growing 126.5 percent in the past year alone, according to the Federal Housing Finance Agency. Lender Processing Services (LPS) also estimates that more than seven million mortgages are either delinquent or in the foreclosure process.

Starting in September, major lenders initially began freezing foreclosure procedures in the 23 states requiring a judicial review. Bank of America and Ally have since resumed foreclosures in these states, continuing to review their processes, and JPMorgan has yet to lift its temporary suspension.

“While some of these lenders have restarted their foreclosure process, homeowners remain generally uninformed of what this means to their individual situations,” Blanchard said. “Homeowners facing financial hardships deserve to know the options available to them, and that lenders are willing to work toward alternatives to foreclosure.”

The CDPE Designation Nedy Blanchard has earned provides real estate agents with the tools and knowledge needed to efficiently, ethically and effectively pursue foreclosure alternatives, specifically short sales. In addition to their initial training, CDPE-designated agents are connected to a network of professionals via the Distressed Property Institute, allowing them to remain regularly updated on the complex and quickly changing real estate market.

For more information, visit http://www.ShortSaleArt.com.

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Adelphi Realty Team is a general real estate company that also specializes in the distressed market and in the Fort Myers area short sales and Pre-foreclosures. Homeowners in the Cape Coral, Estero, Miromar Lakes and nearby cities can receive foreclosure prevention services at no cost to them.

Nedy specializes in helping homeowners who owe more on their house than it is worth and are not sure what to do.

Call Nedy Blanchard at 800-584-9721 to get started on the path to recovery.