There seems to be some concern that the 2020 economic downturn will lead to another foreclosure crisis in Knoxville like the one we experienced after the housing crash a little over a decade ago. However, there’s one major difference this time: a robust forbearance program. During the housing crash of 2006-2008, many felt homeowners should be […]
Why Today’s Options Will Save Knoxville Homeowners from Foreclosure
Many housing experts originally voiced concern that the mortgage forbearance program (which allows families impacted financially by COVID to delay mortgage payments to a later date) could lead to an increase in foreclosures when forbearances end. Some originally forecasted that up to 30% of homeowners would choose to enter forbearance. Less than 10% actually did, and […]
Do You Need to Know More about Forbearance and Mortgage Relief Options?
Earlier this year when the nation pressed pause on the economy and unemployment rates jumped up significantly, many Knoxville homeowners were immediately concerned about being able to pay their mortgages, and understandably so. To assist in this challenging time, two protection plans were put into place to help support those in need. First, there was a pause […]