Hugh Nelson and Taylor Brown Earn Prestigious Designation to Help Homeowners in Danger of Foreclosure

Poulsbo, WA – 8/18/2009 – Hugh Nelson and Taylor Brown of Prowse and Company Real Estate in Poulsbo have earned the prestigious Certified Distressed Property Expert® (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. At a time when millions of homeowners are struggling with the possibility of foreclosure, the skills and education accumulated by both Nelson and Brown will help benefit Poulsbo-area 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.

In the Poulsbo-area, more than 60 homes are in some stage of foreclosure, and as many as 13% of all mortgages may be in default. It is happening across all price ranges, and the fastest-growing category of homes entering foreclosure is luxury homes in excess of $1 million.

"The CDPE designation has been invaluable as I work with homeowners and lenders on complicated short sales," said Brown. “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 Hugh Nelson and Taylor Brown with the CDPE Designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which can virtually destroy a credit rating. "These experts also better understand market conditions and can help sellers through the emotional experience,
he said.

The Distressed Property Institute provides live and online courses to train real estate professionals how to help homeowners in distress, with a particular emphasis on handling short sales. “Our goal is to help as many homeowners as possible, by educating as many real eWA professionals as possible,” Charfen said. 'Hugh Nelson and Taylor Brown have demonstrated a commitment to the struggling homeowners in Poulsbo, and will provide much-needed assistance in stabilizing the community."

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