Distressed property expert breaks down February’s foreclosure numbers

Alex Charfen, a foreclosure and short sale expert and the founder of the Certified Distressed Property Expert designation for real estate agents, sat down with Tennessee broker John Jones last week to discuss the latest RealtyTrac U.S. foreclosure report and what it means for both the housing market and for borrowers nationwide. Despite the month-to-month decrease in February filings, Charfen said, the delinquency numbers — which are more telling — show that the country has a long way to go before the foreclosure crisis peaks. The biggest challenge, he said, is that “most people [in danger of foreclosure] do nothing when they have options.”