Solving the Knoxville Foreclosure Crisis
One Homeowner at a Time

Rick Smenner

RE/MAX Preferred Properties
[email protected]

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3 Things To Do After Completing A Knoxville Short Sale

Knoxville Short Sales can help You get your life backIf you've recently completed a short sale on your Knoxville home, life after a short sale is not as doomed as you may think. While it may take some time to recover from a short sale, life will go on sooner than you may think. Here are 3 essential things that every homeowner must do after completing a Knoxville short sale. One thing that is extremely important after completing a short sale is to make sure that a short sale was reported properly on your credit report. A short sale approval letter will outline how a lender is planning on reporting the sale to the credit bureaus. Then, request a copy of your credit report from all of the three major bureaus to ensure the sale was reported properly. If the short sale was reported incorrectly, you can dispute it with the credit bureaus by sending them a copy of the short sale approval letter. Another important thing to manage after your short sale is your credit. To help raise your credit score, be sure to pay down any existing debt and manage your debt responsibly. It is also extremely important that you make all payments on time. Finally, be leery of opening any new credit accounts if at all possible. Finally, with a little bit of time and patience, you're credit will improve and buying a home again will be possible. Depending on your situation, there are some wait periods associated with buying a home again. But they're not necessarily as long at you may think. The FHA has a "Back To Work Program" which allows homeowners to buy a home with as little as 3.5% down with a wait time of only a year. Are you facing foreclosure on your Knoxville home? If you're facing foreclosure on your Knoxville home, please do no hesitate to contact my team and I for a free consultation. Rick can be reached at 865-696-9002 or via email at [email protected]. We've helped countless Knoxville homeowners avoid foreclosure.

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