Ellen Manzi Offers a Helping Hand to Local Homeowners Headed Toward Foreclosure

Distressed property expert urges homeowners struggling with mortgage payments to pursue lower-impact alternatives

Millstone, NJ (October 24,2011) – “Nationwide, 10.9 million or 22.5 percent of all homeowners with a mortgage owe more on their property than it’s worth in the current market, and another 6.3 million are in some stage of foreclosure,” noted Manzi of Prudential New Jersey Properties.

A Certified Distressed Property Expert (CDPE), Manzi pointed out that the long-term implications of foreclosure cannot be underestimated, and has developed a report entitled, “Need a Helping Hand?” This report can be accessed from EllenManziShortSales.com.

“Too often, the anxiety associated with missed mortgage payments and the fear of putting trust into the wrong hands, causes homeowners who are heading toward foreclosure to avoid seeking help or pursuing a short sale,” Manzi said.

A short sale occurs when the current market value of a home is worth less than what is owed on a mortgage and a real estate agent negotiates with the lender on behalf a financially strapped homeowner to accept a loan payoff that is less than the amount owed. “While lenders were once reluctant to negotiate short sales, the current glut of foreclosed properties on their books has prompted an aggressive push to mitigate losses, and some are even paying homeowners significant cash incentives to make a fresh start on their lives after the close of the short sale, Manzi explained.

Real estate agents who have received the Certified Distressed Property Expert (CDPE) designation have proactively sought out the real estate industry’s best training for serving clients within the complicated and highly charged distressed property arena. CDPE agents are required to complete two days of intensive training and are held to a high standard of expertise, efficiency and ethics.

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

For information about buying or selling a home, contact Ellen at Prudential New Jersey Properties Millstone Township Office, located at 222 Millstone Rd. Perrineville, NJ, at 732.446.4959 or ellen.manzi@prudentialnewjersey.com <http://ellen.manzi@prudentialnewjersey.com> . Visit www.EllenManziRealEstate.com <http:// <http:///> ellenmanzirealestate.com/> or www.PrudentialNewJersey.com <http:// <http:///> www.prudentialnewjersey.com/> .

About Ellen Manzi

A licensed realtor since 1995, Ellen has earned numerous Million Dollar Club awards. She is a designated Certified Relocation Specialist; e-pro certified and is currently the co-lister on Perretti Farms, the largest Standardbred racehorse farm in New Jersey. While finding all of that satisfying, Ellen feels that the CDPE training has been the most valuable, rewarding and IMPORTANT asset she has earned over the years. Ellen is still a dedicated agent providing first class service to standard sales and is happy to assist all sellers and buyers in making one of the most important decisions in their lives.

About Prudential New Jersey Properties

Based in Somerset, Prudential New Jersey Properties offers resale, new homes, fine homes and resort and commercial properties as well as relocation, mortgage, title and insurance services. With 19 offices and more than 600 sales associates serving 11 counties -- Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Somerset, Sussex, Union and Warren – Prudential New Jersey Properties is the state's largest Prudential Real Estate Affiliate and the second largest independently-owned residential real estate company. For more information, visit http://www.PrudentialNewJersey.com <http://www.prudentialnewjersey.com/> or contact the home office in Somerset at 800-LIVE-IN-NJ (800-548-3466).

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