Solving the Knoxville Foreclosure Crisis
One Homeowner at a Time

Rick Smenner

RE/MAX Preferred Properties
[email protected]

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Knoxville Home Saver: What If My Knoxville Short Sale Isn’t Successful?

Knoxville Short Sales can help You get your life backIn our Ask the Expert Section, we recently received a question from Anne, she asks, "I bought my Knoxville home back when it was worth significantly more. A few years ago my son had some medical bills, so it made it difficult for me to stay current on my mortgage. I want to do a short sale on my Knoxville home, but am afraid it won't work out. What happens if my Knoxville short sale isn't successful?" Anne, I'm so sorry to here about your situation.  To answer your question, you have nothing to lose if you try a short sale.  When you complete a short sale, your lender will take care of paying all of the agent commissions, closings costs, past due property taxes, among other things. If the short sale is not successful, my team and I require nothing for our services unless the sale closes. In addition, we'd help you pursue whatever other options you may have to avoid foreclosure on your Knoxville home. Like many people in your situation who have been hit by hardship, a Knoxville short sale is the best way out of a bad situation. A Knoxville short sale will allow you to stay in your home while the sale is completed (typically 4 to 6 months) and it also gives you time to get back on your feet, since most sellers stay rent free. A short sale will also do less damage to your credit and many lenders will waive their right to pursue you for a deficiency judgement. On the flip side, you have everything to lose by doing nothing. Foreclosure can happen quickly in the state of Tennessee, so its better to pursue your options sooner rather than later. The ramifications from foreclosure are far worse than an alternatives to avoid foreclosure Do you own more on your Knoxville home than it is worth? Please give my team and I a call today at 865-696-9002 or send an email to [email protected]. We've helped many Knoxville homeowners avoid foreclosure on their Knoxville homes.

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