With More Than One in Seven Mortgages Not Being Paid, Local Broker Offers Free Resources to Struggling Homeowners

In response to community needs, new website educates struggling homeowners on options to foreclosure.

MESA, AZ – May 25, 2010 – Local real estate broker and Certified Distressed Property Expert^®, Joe Martin of RE/MAX Diamond, responded to new mortgage delinquency numbers by creating a new information website for Phoenix Metro, Scottsdale and East Valleyarea homeowners facing financial hardships. ~www.AzSPO.com~ contains vital facts about the options available to distressed homeowners.

 “With more than 14 percent of mortgages in default status, there are a significant number of homeowners who are facing foreclosure,” Martin said. “When faced with the possibility of foreclosure, I’ve seen too many homeowners make poor choices, even walking away from their homes without calling their lender or a real estate agent. By offering free information on more beneficial options, I know I can help our community’s homeowners.”

The Mortgage Bankers Association’s First-Quarter 2010 National Delinquency Survey announced that more than 14 percent of mortgage loans are not current on payments. More specifically, 10 percent of prime loans and more than 40 percent of subprime loans are delinquent.

“Whatever their best option is, the most important thing homeowners can do is educate themselves before making a decision,” Martin said.

~www.AzSPO.com~ acts as a central location for information on the issues and options for struggling homeowners, putting all the necessary information in one, easy-to-use location. The information and materials located on the site are regularly updated to reflect market changes, trends, new lender requirements and industry updates.

Alex Charfen, co-founder and CEO of the Distressed Property Institute said that more than seven out of 10 homeowners in foreclosure proceed without any visible assistance.

“Agents with the Certified Distressed Property Expert^® designation are helping distressed homeowners understand that there may be options available to them,” he said. “Martin has been trained to help homeowners avoid foreclosure, and this online education resource is a valuable public service.”

The CDPE designation provides real estate professionals with specific understanding of the complex issues confronting the real estate industry. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today’s market.