Business News

                Frederick Bruce Cook of Keller/Williams in Quaker-townhas earned the prestigious Certifies Distressed Property Expert (CDPE) designation, having completed 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 accumulated by Cook will help benefit Delaware Valley-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 cost 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.

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

                Alex Charfen, co-founder and CEO of the Distressed Property Institute in Austin, Texas, said that agents such as Bruce Cook 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.