Send me the address in an email or text at 9013383051 or email@example.com; I will send you a very detailed report about the property. No-obligation; I won't try to shove a contract down your throat :)... more
Hi Judy, a short sale is a transaction in which the market value of the property is less than what the owners/mortgage holder owes the bank. Given the decline in the market on the heels of a period in which low down payment loans were prevalent, you can appreciate why they are so common now. Think of short sales as step 1 in what may become a foreclosure over time.
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I have had clients do an exchange and then roll the outstanding amount into the new purchase, but it was with a local lender that had a business relationship with these folks. I must also add, they all had fantastic credit and one was a doctor and the other had a tramatic life experience (that I wouldn't wish on anyone).
I would first check with a local bank/lender. Explain what you are wanting to do and see if they can come up with a solution for you.
Hi, I lived In Riverwood farms about 4 years ago. When the city took us under there wing and the property tax went over $4500, it was time to go. We now live in East Tennessee outside Knoxville. I am a REMAX agent here. If I was in your shoes, I would wait till next year when the market is better. There are a lot of homes on the market, and as you see from your neighbor, prices are being held down. If you don't have to move, just hang tight. If you have any question, just ask. Always glad to help!... more