Solving the Knoxville Foreclosure Crisis
One Homeowner at a Time

Rick Smenner

RE/MAX Preferred Properties
[email protected]

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Buying A Knoxville Home After A Foreclosure Or A Short Sale

House-For-SaleFor any Knoxville homeowner that has gone through foreclosure or completed a short sale, dreams of owning a home again can seem altogether impossible. Fortunately, buying a Knoxville home after foreclosure or completing a short sale may not be as difficult as you think. Here are 3 tips for buying a Knoxville home after foreclosure or a short sale. Get Organized It important that you keep all important documents after completing a short sale or going through foreclosure. Things like the settlement statement, warranty deed, short sale approval letter, among other things will be important to have handy when applying for a mortgage. In addition, it is important that you see where your credit ended up after completing a Knoxville short sale or going through foreclosure. This will show you how much you will need to rebuild your credit and it will also allow you to double check that the foreclosure or short sale was reported properly. Work On Rebuilding Your Credit & Your Life Securing a mortgage again will take some time and some work. It will be important for you to work on rebuilding your credit by paying bills on time and paying down debt. In addition, it will be important to show a lender that you have stable income and that you have been responsible with money since they foreclosure or short sale. It will also be important to stow some money away as an emergency fund and save for a down payment Plan Ahead There is nothing wrong with be proactive after completing a Knoxville short sale or going through foreclosure. There is nothing wrong than sitting down with a loan officer early on to see what you'll need to do in order to buy a Knoxville home again. Are you facing foreclosure on your Knoxville home? Do you want to know what alternatives you have to avoid foreclosure? My team and I have helped countless homeowners avoid foreclosure on their Knoxville home, give us a call today at 865-696-9002 or via email at [email protected].

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