Solving the Knoxville Foreclosure Crisis
One Homeowner at a Time

Rick Smenner

RE/MAX Preferred Properties
[email protected]

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Knoxville Short Sales: Why Won’t My Lender Allow Me To Short Sale?

KnoxvilleShortSaleWhichWayToGoWe recently had a question in our "Ask The Expert" David asked “I lost my job and am burning up my savings very fast. At the current rate I will only be able to pay my mortgage for a few months more. My lender won’t talk to me about a short sale because I am current on the payments. I am trying to maintain my credit and don’t understand why they won’t consider a short sale until I am delinquent on payments. What is going on? David.” Here was our answer to his question. Some banks just won’t consider a short sale until you a behind on payments. It just blows my mind why some lenders think this way. You have a hardship with the loss of your job and have done the responsible thing by contacting your lender. Keep in mind sometimes lenders will tell you one thing over the phone and do something else once a short sale is presented to them by a professional. We have completed many short sales for sellers who were current on their mortgage payments. Here is what I would suggest you do at this point. Contact an agent who understands short sales like a CDPE. Make sure they have successfully closed short sales ask about their track record and success rate. I would then get the home on the market and try and get it sold. Once you have an accepted contract a good agent should be able to get a short sale approved for you. We have the most experienced team in the Knoxville area in helping homeowners who may facing foreclosure. We can explain all your options to you then you can determine the best option for you in order to avoid foreclosure of your Knoxville home. Check out out on line resource page with free downloads and solutions. Feel free to call me at 865-696-9002 or email me [email protected] and let's setup a time to meet and talk about your situation.

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