Persinger Properties, a San Diego based real estate brokerage and Cardinal Financial Group a San Diego based real estate investment firm which purchases homes for resale, have agreed to work together to help distressed homeowners avoid foreclosure.
“These homeowners owe more on their homes than the homes are worth”, said Joel Persinger, Broker & CEO of Persinger Properties.
With the current foreclosure crisis and more foreclosures expected in the coming months, Persinger Properties clients were in desperate need of a better solution than simply letting their homes go into foreclosure.
“The folks we’re seeing in these situations have tried every possible alternative. Typically, they’ve attempted refinancing or negotiating a better loan arrangement with their current lender. Failing that, many have tried selling the homes themselves. Nothing has worked. We decided to work with Cardinal Financial to buy the homes and negotiate a better solution than foreclosure for the homeowners. Cardinal has made a science of this… and the bottom line is that they offer a better solution for our clients in many circumstances,” Persinger said.
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