Solving the Knoxville Foreclosure Crisis
One Homeowner at a Time

Rick Smenner

865-675-8326
RE/MAX Preferred Properties
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Homeowner Success Stories Category

Knoxville Short Sale How Does It Affect My Credit?

A successful short sale helps the seller to avoid any credit damage that could be brought about by a foreclosure.Help with Knoxville Short Sales Such damage is not something to admire as it may take a minimum of seven years for someone before it goes off your credit report. That is why is it best to do all you can to avoid it. When you short sell you house, you will recover quickly from the dings of late mortgage payments, provided you can keep your other accounts current. Read the rest of this entry »

Knoxville Short Sale Myth: Banks Aren’t Approving Short Sales Because They Don’t Want To Take Big Losses

Knoxville Short Sale Roller Coaster RightThis is another short sale myth we've seen tossed around. Some people in the media even suggested that banks were delaying foreclosures to delay losses being recorded on their books. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Here is what I think is the real reason: The bank departments that handle foreclosure are understaffed. After all, foreclosures increased hugely since the housing crisis started. The banks have tried desperately to hire on more staff. Read the rest of this entry »

Knoxville Short Sale Process Can You Speed Them Up?

Here in our "Ask The Expert Area" We had the following question "I am trying to buy a short sale. It has been 4 months and we have heard nothing except that we are now Knoxville Short Sales Move Slowlyon our 2nd negotiator, still with no contact from them. I am getting very frustrated. Is there anything I can do on my end to try to push the process along, or is it all up to the agent? Mary asked.” Read the rest of this entry »

Knoxville Short Sale Question: Why Does My Lender Want My Last 2 Pay Stubs?

Question in our "Ask The Expert"....“Why does my lender need copies of my last 2 pay stubs? Are they hoping to garnish my paycheck?
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I am concerned that if I give it to them, then they will use it to garnish my paycheck. They have said if they don’t get them, then they will not approve the short sale. What should I do? Read the rest of this entry »

How do I find a Knoxville Realtor that specializes in short sales?

Knoxville Short Sale AgentsKnoxville TN – Are you looking for a Knoxville Realtor that specializes in short sales. It is important that you pick the right agent. Many agents turn down short sale listings because they are unfamiliar with the process. These transactions are much more difficult and complicated than your average real estate transaction. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Because of the foreclosure process, you usually only have one chance at a short sale. If your first agent isn't competent, then you risk losing your house to foreclosure. Then you have to wait another 5-7 years to buy your next house. First, ask the agent you are interviewing why they qualify to help you. Do they have any special short sale training or designations? Many agents have taken specialized training and education. They care about being up to date with the current trends in the market. Read the rest of this entry »

How To Ensure Accurate Appraisals And A Successful Knoxville Short Sale

house-valueKnoxville TN –As we talk about in a previous posts the biggest threat to your short sale is a high appraisal. Which is why your agent needs to make sure the appraisal is accurate.

Here is the process we follow to ensure an accurate appraisal.

The person doing the appraisal doesn’t understand why the home is selling for a specific sales price. They don’t understand why buyers are only willing to pay X. That is why we must explain that to them. Read the rest of this entry »

Why Your Agent Should Check That Appraisals Are Accurate For Your Knoxville Short Sale

Knoxville TN –In a  previous post we talked about how important it was to make sure appraisals are accurate on short sales. The biggest threat to your short sale is a high appraisal. Which is why your agent needs to make sure the appraisal is accurate.important There are a lot of opinions on how to ensure the appraisal is correct and accurate. You need to check and make sure your agent is willing to do the extra work. Read the rest of this entry »

The Biggest Threat To A Successful Knoxville Short Sale

DangerKnoxville TN – The biggest threat to your short sale is a high appraisal. Banks consider short sales for economic reasons. A bank will approve a short sale only if they think they will net more money taking the short sale offer. To make sure they aren't selling the house for too little, they order an appraisal. Read the rest of this entry »

Knoxville Short Sale Myth: There Are No Rules Or Guidelines For Short Sales

Knoxville Knoxville short sale rule bookTN – I recently saw an article written by a prominent, so called short sale expert. In the article, this supposed expert says the only rules for short sales are HAFA, but even those rules are subject to interpretation. That is like saying that there are no traffic laws. If that were the case, then everyone could drive 100 MPH and never get a ticket. That is like saying that the court system has no rules. (Go ask a judge or lawyer and you’ll find out the truth about that pretty fast.) Read the rest of this entry »

Want To Buy A Knoxville Short Sale? Better Be Patient

With the recent housing market turmoil, many potential homebuyers have begun to wonder if short sales are a good Knoxville Short Sale Take Patienceway to make the most of the current buyers’ market. While a short sale can sometimes lead to a great deal, the process is far from simple. In real estate, a home listed for short sale means that the lender has agreed to take a discounted payoff to release the mortgage. There are many reasons why a home may be listed as a short sale, but this step is often taken to avoid an inevitable foreclosure. In a short sale, the lender ultimately decides whether to accept a buyer’s offer and the process is often lengthy. Read the rest of this entry »

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