There are solutions to avoid letting your house fall into foreclosure.

Eagle Launches Foreclosure Alternatives Website for Distressed Homeowners

(August 21, 2010 - San Jose, CA) - There is no question about it, these are troubled times...in fact, today it is reported that nearly 1 out of every 10 homeowners in America is behind on mortgage payments¹. Foreclosure is becoming an all too familiar sign throughout the neighborhoods of San Jose and the greater Santa Clara County. And, chances are that you or someone you know in your community is unfortunately facing the possibility of a bank foreclosure of their home.

Now more than ever, it's important to identify the options that may be available if you face this daunting situation. What I’ve learned through my experiences assisting families facing foreclosure while working as a real estate professional here in San Jose is that homeowners tend to have more questions than answers about their circumstances, and unfortunately there is not a lot of reliable information available to them.

This is why I have created this on-line resource…ForeclosureHelpSanJose.com; in an effort to help those unfortunate enough to be facing foreclosure gain a better understanding of possible solutions available to them. Because when you've fallen behind on your mortgage the thought of losing a home can often be extremely overwhelming, and simply ignoring it won't make it go away.

The website aims to better explain foreclosure alternative options (including short sales) to those most impacted by the unstable economy. Plus, the site is loaded with a whole library of FREE Reports available for download that will hopefully provide some answers, or at least clarify some options, so that a distressed homeowner will have enough information to choose a proper course of action and hopefully avoid foreclosure.

This new website is a part of the Eagle Properties Group’s ever growing commitment to our community and to our goal of helping the homeowners that have been hit hardest by the financial bust. The site is hosted in conjunction with the Certified Distressed Property Expert^® (CDPE) Institute, which earlier this month we earned our CDPE designation having completed extensive training in foreclosure avoidance, with a particular emphasis on short sales.

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.

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

“These experts better understand market conditions than the average agent, and can help sellers through the complications of foreclosure avoidance,” he said.

At a time when millions of homeowners are struggling with the possibility of foreclosure, the skills and education amassed by our brokerage will help benefit Santa Clara County-area residents and communities. And spreading the right information will hopefully reach those distressed homeowners that need it the most.

¹Ref.: San Jose Mercury News article (8/27/2010) - http://www.mercurynews.com/real-estate-news/ci_15901253