Nashville Home Owners Prepare for the Next Wave of Foreclosures – Is This YOU?

It was headline news in Sunday's Tennesseean.  The next wave of foreclosures is coming and there are many Nashville Residents that will be in that Real Estate Foreclosure Wave.

Do you feel like THIS is where you are headed?

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Well, it doesn't have to be that way!!!

There is something called a SHORT SALE.  When I originally heard that term I immediately assumed it meant selling your house quickly. 

But what it actually means is that you get to make a deal with the bank where THE BANK AGREES TO TAKE LESS THAN WHAT YOU OWE ON YOUR HOME!!!

There are, of course, many guidelines which you will have to abide by, but you will be able to salvage some of your credit and won't have a foreclosure in your history!           Image 

 

Banks are becoming increasingly aware that foreclosures cost them a WHOLE LOT MORE MONEY than a short sale, so they have recently been more accepting of the short sale procedure. 

Look, we ALL go through hard times and make mistakes at one point or another in our lives.  And I challenge anyone out there to disagree with that statement! 

If you find that you are in a position where you are behind on your mortgage and don't know what you are going to do, just know that there are Realtors Who Care out there. 

And there are BUYERS who are looking for distressed properties because they believe they can get a bargain.  So a pre-foreclosure action like a short sale can actually be a WIN-WIN-WIN situation for SELLER, BUYER AND BANK!

Now THAT'S what I call working together to solve a tough situation!

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For more information about short sales or for a list of distressed properties in the Middle Tennessee Area, please contact Realtor Emily Lowe at 615.509.1753