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 Short Sell Or Try To Save My House?

dollar-signIn our Ask the Expert Section, we recently received a question from Bexley, she asks, “I'm not sure what to do about my current situation. I've missed almost a years worth of mortgage payments on my Knoxville home. I'm not making as much at work (I'm mainly commission based) and hit a few difficult months. I want to avoid foreclosure on my Knoxville home but am not sure if it is the best option for me. I'm starting to make more again at work and could probably start making payments. Should I short sell my Knoxville home or should I try to save it?" Bexley, you ask a very valid question about Tennessee short sales. It's a question that many sellers often debate before doing a short sale. The decision to stay or go can be a difficult one. Here are a few things to think about before pursuing a short sale. A short sale may be your best option IF: -You are so underwater on your Knoxville home it will take years and tons of extra payments to break even. -Your Knoxville home no longer fits your needs. -You will be financially stretched to keep making payments. -You need a way out to avoid foreclosure on your home. -You want to start over and are sick of be dragged down by your Knoxville home. -You can't be approved for a loan modification. -You have a foreclosure date set. Staying in your home may be the BEST option IF: -You are approved for a loan modification and can afford to make the monthly payments. -Home prices in you area are appreciating and your home is no longer underwater. -You want to save your Knoxville home and can continue to make payments. -You are eligible to refinance and can afford those monthly payments. Are you facing foreclosure on your Knoxville home? Do you want to hear your options 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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