The Certified Distressed Property Institute (CDPE) has just reported the most recent distressed property statistics from the Mortgage Bankers Association and I’ll tell you folks, “they ain’t pretty!” 

The statistics below are based on 45,000,000 mortgages for the 3^rd quarter of 2008: 

All Mortgages:
            2.97% are in foreclosure
            6.99% are in default
            9.96% total in default 

Prime Mortgages:
            1.58% in foreclosure
            4.34% in default
          5.92 total in default 

Sub-Prime Mortgages:
          12.55% in foreclosure
             20.02% in default
            32.57% total in default 

FHA Mortgages:
           2.32% in foreclosure
             12.92% in default
            32.57% in default  

VA Mortgages:
          1.46% in foreclosure
            7.28% n default
         8.74 total in default 

As you can see, 10% of all mortgages were in default. Not just subprime mortgages but all mortgages! A number that has doubled since January 2007. These numbers are not only overwhelming, but also heart breaking knowing they represent 4.5 million families in crisis. 

The real estate industry has the ability to help these families avoid foreclosure and regain stability in their lives. Most families in distress don’t know they have options and think foreclosure in inevitable once they get behind on mortgage payments. CDPE training provides you with the tools you need to assist families in distress. As real estate virtual assistant who is CDPE certified, I can assist you with implementing the tools CDPE provides, growing your distressed property business, marketing distressed property listings and progressing to a successful closing. 

Give me a call. I’d like to work with you helping families in need.