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: What If I Change My Mind?

imagesIn our Ask the Expert Section, we received a question from Jack, he asks, “I started a short sale on my Knoxville home earlier this year. I'm beginning to lose my patience with the situation. I don't want to go through the foreclosure process, but I'm not sure that a Knoxville short sale will be successful. We've been waiting for an answer for months and we keep having to resend things a million times. What happens if I decide to walk away from doing a Knoxville short sale?" Jack, I'm sorry to hear about your current situation. Knoxville short sales can be very frustrating for exactly that reason. The waiting can feel like it is going on for months with very little or no progress. As the seller on a Knoxville short sale, you have every right to walk away from the transaction at any time, if you so desire. This can be done at any point throughout the short sale process. Before giving up on the Knoxville short sale process, I would encourage you though to examine your reasons for wanting to walk away from a Knoxville short sale. Are you just sick of waiting? What are your reasons for wanting to walk away? Do you have another option in mind?  While ultimately is is your decision to walk away, I would just encourage you to examine your reasoning to ensure you're not throwing away a good opportunity. A Knoxville short sale can take a good deal of time to complete, but is oftentimes very well worth the effort. It gives you time to get back on your feet and will do less damage to your credit. With a short sale, your lender is much less likely to pursue you for a deficiency judgement. All of these reasons make waiting for a short sale very worth it. Are you underwater on your Knoxville home? Do you want to hear what options you have to avoid foreclosure? If so, 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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