Foreclosure Alternatives for Homeowners in Default

Foreclosure Alternatives for Homeowners in Default-Image via Wikipedia

“Lenders are projected to lose 45-85% of their initial loan amount to foreclosure sales in 2011”

Online report outlines foreclosure alternatives for homeowners struggling to make mortgage payments in Santa Clara, San Mateo and Santa Cruz Counties.

Local CDPE-designated agent, Timothy Alston of Keller Williams® Realty, has developed a website providing information describing several opportunities for homeowners to avoid the negative financial impact of foreclosure.

This community resource is available at and defines foreclosure alternatives, including short sales, loan modifications and deeds-in-lieu of foreclosure.

“The New Year is when most Americans set goals to increase their financial stability, but for many in Santa Clara, San Mateo and Santa Cruz County, financial stability seems unattainable,” Alston said. “With this report, I’m showing homeowners that they have options and that lenders are now more than ever willing to work with them.”

According to Fitch Ratings, lenders are projected to lose 45-85% of the initial loan amount in foreclosure sales in 2011. In a short sale transaction, homeowners avoid foreclosure by working with their lenders and selling their property for less than the mortgage amount owed. Although lenders accept less, the financial loss is far less severe than a foreclosure.

“In the New Year, we all want to look forward to a prosperous future and it’s frustrating when stability seems out of reach,” Alston said. “What struggling homeowners need to understand is that there are alternatives to foreclosure. All they need to do is ask for help.”

The CDPE Designation Alston 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

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