Realtors help homeowners avoid foreclosure - WBRC FOX6 News - Birmingham, AL

Realtors help homeowners avoid foreclosure

By Alan Collins

BIRMINGHAM, AL (WBRC) - A renewed effort is underway to help homeowners avoid foreclosure.

Monday, realtors across Alabama attended a training session in Birmingham. The session was sponsored by the Distressed Property Institute, an Austin, Texas company. The training session seeked to help realtors recognize which homeowner they can help avoid further financial problems.

Realtors in Birmingham tell FOX6 News 40 percent of the existing home sales are due to foreclosures and another 40 percent are on the way to banks seizing control.   

"In the future we save their credit," said Delores Roth with the Distressed Property Institute. "So that they can get back into real estate the right way, the traditional way, without the chances they took before. We want to help the homeowners who deserve it."

The institute believes the threat of foreclosure will be around for another five to six years. Realtors are interested in helping homeowners because for every home that forecloses it brings down the value of all homes nine percent in the entire neighborhood.  This will affect the money the realtors earn from sales.

Homeowners in financial trouble are urged to contact their realtor or go to the Distressed Property Institute website at www.cdpe.com.

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