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 […]
FHA 203(k) loan wraps repair costs into your 30 year mortgage
Purchasing a fixer upper or foreclosure in Knoxville means you are getting a getting a good deal, but with that deal is the price of repairs. Foreclosure website RealtyTrac, states that foreclosures sold at an average discount of 27% compared to non-distressed properties in the first quarter of 2012. A great option for Knoxville home […]
More Foreclosures in Knoxville Expected to Hit the Market
How with the recently negotiated National Mortgage Settlement effect the current Knoxville housing market? Foreclosures in Knoxville have been significantly slowed since the third quarter of 2010. Since that time banks have been concerned about the penalties they would face from the settlement and in turn chose to delay the actual seizure of foreclosed properties […]