Solving the Knoxville Foreclosure Crisis
One Homeowner at a Time

Rick Smenner

RE/MAX Preferred Properties
[email protected]

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Knoxville Short Sale Question: Should I Try And Save My Home?

stopforeclosureknoxvilleIn our Ask the Expert Section, we recently received a question from Jake, he asks, “I've been struggling to keep making payments on my Knoxville home. I'm at the point now where I'm at the point of no return. I feel like doing a short sale is giving up, but I'm not sure how I would rebound from my current situation. I've tried a few things and nothing has worked. Should I do a short sale or should I try to save my Knoxville home?" Jake, I'm very sorry to hear about your current situation. It's a very tough decision to make, whether to do short sale or try to find another solution to stay in your Knoxville home. Unfortunately, there is no clear cut solution, as the situation is largely personal and you have to determine the best solution for you. If you're not quite ready to give up on saving your Knoxville home, you could try to pursue a loan modification. With a loan modification, you will work with your lender to change the terms of your loan to help make your payments more bearable. There are a few different loan modification programs, including Fannie Mae and Freddie Mac's program or HAMP, that are available to homeowners to avoid foreclosure. A Knoxville short sale is another option you have to avoid foreclosure on your Knoxville home. A short sale will do less damage to your credit and will allow you to stay in your Knoxville home until the sale it complete. Lenders have embraced short sales more and more over the past few years, since short sales tend to generate better sales prices. Debating what option to use to avoid foreclosure can be a difficult one. If there is anything my team and I can do to help you avoid foreclosure, please do not hesitate to give my team a call at 865-696-9002 or send an email to [email protected]. We’ve helped countless Knoxville homeowners avoid foreclosure. Give us a call today for a free consultation.

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