What To Do If You’ve Missed Payments On Your Knoxville Home

KnoxvilleshortsaleWhen you've experienced some sort of hardship, sometimes it can be difficult to make ends meet. It can be scary being unable to make the mortgage payment on your Knoxville home. So, what should you do if you've missed payments on your Knoxville home? It really all depends how late you are on your Knoxville mortgage payment. If you're only a week or two late, but you still make your payment before 30 days, it is generally unlikely that the credit bureaus will be informed. (But, be sure to check with your lender.) You will likely be required to pay a late fee. If you're more than 30 days late on a payment, and anticipate that it will be difficult to continue making payments you have a few things to consider. If your payment has become to difficult to keep paying on your Knoxville home, you can consider either refinancing with refinancing with the HARP 2.0 program or modifying your loan. Both of these options provide you with a way to make your payments on your Knoxville home easier to pay. These are good options if you have the income to keep making lower payments and want to stay in your Knoxville home. If you're in a situation where you feel like you are no longer able to afford your Knoxville home, you may want to consider a short sale. A short sale allows you to sell your Knoxville home for less than what is owed, with the agreement of your lender. It does less damage to your credit and allows you to stay in the home until the sale is complete. If you're in a situation where you feel it will be difficult to continue making payment, it is important that you explore your options as soon as possible. There are a wide variety of ways to avoid foreclosure it is just important to pursue them before it it too late. If you're facing foreclosure on your Knoxville home, please let me know if there is anyway that my team and I can assist you. You can give us a call at 865-696-9002 or send an email to [email protected]. We've helped many Knoxville homeowners avoid foreclosure and all of our services are done at no cost to you. Also, be sure to check out our Knoxville Short Sale and Foreclosure Solutions Page.

facebook twitter linked in youtube