Author: premisehomesolutions

Foreclosure and preforeclosure are two terms that are commonly used in the real estate industry. While these terms may sound similar, they have very different meanings and implications for both homeowners and potential buyers. What is Foreclosure? Foreclosure is a legal process that occurs when a homeowner is unable to make their mortgage payments. When … Continued

Facing foreclosure can be an extremely stressful experience for any Tennessee homeowner. Not only does it mean the loss of a home, but it can also have a significant impact on one’s credit score and financial future. Fortunately, there are options available for homeowners facing foreclosure, including working with direct property buyers in Tennessee. In … Continued

If you are a homeowner filing for bankruptcy, your home will become part of the bankruptcy estate, which includes all your property and assets. In October 2022, there was a notable twenty-seven percent surge in chapter 13 bankruptcy filings compared to the previous year. Overall bankruptcy filings across all chapters have increased by seven percent, … Continued

If you find yourself in a situation where your property is at risk of foreclosure due to circumstances beyond your control, it is crucial to collaborate with your lender to find a resolution at the earliest possible stage. While the ideal scenario is to proactively address the issue with the lender, having a clear understanding … Continued

Foreclosure rates in America are steadily increasing, posing potential implications for the real estate market in Tennessee. The housing sector, known for its volatility due to fluctuating prices, evolving regulations, and unpredictable economic factors, presents challenges for both buyers and sellers. Among the crucial factors influencing the market is the foreclosure rates. The surge in … Continued

Halting the foreclosure process on your Tennessee property can present challenges, but it is certainly achievable. The complexities of engaging with financial institutions, negotiating terms, and grappling with mortgage concerns can be daunting, yet numerous solutions exist to assist you. Foreclosure is a prevalent issue affecting millions of Americans annually. If you find it challenging … Continued

When it comes to real estate transactions, home sales typically fall into one of three primary categories: traditional sales, short sales, and foreclosures. Each of these categories presents its own set of advantages and disadvantages for buyers. Generally, short sales and foreclosures offer more affordable properties, but buyers should be aware that the lower prices … Continued

Owing more than the market value of your house can be a challenging situation, especially if you need to sell quickly due to personal or financial reasons. It can feel overwhelming to tackle the sale of a house while already under stress. However, being aware of your options can empower you to make the best … Continued

When facing the slow-turning wheels of foreclosure, there is a window of opportunity to change course and secure your future. Fortunately, foreclosure is entirely avoidable, yet many lives suffer long-term consequences due to lack of awareness and inaction by homeowners.  Regardless of the circumstances leading to this point, proactive homeowners can still reclaim control and … Continued

Whether you overpaid for the property in a bidding war, you’ve fallen behind on mortgage payments, or property values have dipped, being upside-down on your mortgage or owing more than the current market value is a less-than-ideal situation for homeowners. If circumstances force you to sell your house due to foreclosure instead of waiting out … Continued