Entrust Homebuyers | Real Estate Solutions | Servicing Tennessee

3 Ways To Avoid Foreclosure In Tennessee

By Kellen Harris

There are very few things in life more crushing than the possibility of foreclosure. You enjoy your home and have made some great family memories there. Yet, due to circumstances beyond your control you’re facing financial hardships, or even foreclosure.

Regardless of your situation… loss of job… medical bills… divorce… Any number of things can put you in a tight spot where foreclosure seems like your only choice.

If you are looking to avoid foreclosure in Tennessee, have hope! You do have options…

How to avoid foreclosure in Tennessee

Here are three strategic ways to help you avoid foreclosure in Tennessee so you can move on with your life. See which one best fits your personal and financial situation.

#1 – Talk to your lender

Contrary to popular belief, most lenders don’t want to foreclose on your home! They want happy customers who pay their mortgages, so lenders are often willing to work with homeowners to figure out a deal.

Call your lender and ask about a “foreclosure workout.” A workout agreement allows a borrower in default to renegotiate the terms of a loan with their lender. Tell them you would like to stay in your house, but can’t pay the loan as it is now.

Not all lenders are willing to make a workout agreement, but it’s worth a try to see if they offer you payment plan that works for your situation.

#2 – File for bankruptcy Strategy

Filing for bankruptcy is one of the legal financial “tools” that can help you avoid foreclosure in Tennessee. When you file for bankruptcy, it alerts your creditors that you are no longer able to pay your bills. On the bright side, bankruptcy will halt the foreclosure process because creditors must stop all acts of collection toward you.

Let’s be clear. Filing for bankruptcy is an extreme measure. It should only be used as your last line of defense! Yes, bankruptcy wipes out many bills like overdue utility payments or credit card balances. It can even get rid of a mortgage or car payment. Bankruptcy may also force you to sell off some of your assets, like your car or home, in order to pay off your creditors!

Bankruptcy also puts a serious drag on your credit score for many years. That could impact everything from getting another home, a car loan… even a job opportunity.

#3 – Sell your house fast for cash

A foreclosure in Tennessee can take months or even years to complete. The long-drawn-out process usually only increases the financial anxiety for most families.

If you are facing foreclosure in Tennessee, one of the best financial options to consider is selling your house to a professional home buying company. The process is straightforward, fast and easy.

Professional Home Buying company evaluates your property and makes you a fair market offer. They purchase will buy your home for cash just as it is, regardless of condition. You simply decide whether to accept the cash offer, or not.

Entrust Homebuyers buys homes facing foreclosure in Tennessee. We specialize in serving homeowners just like you save thousands in foreclosure costs, back taxes or penalties. Our team has helped many families in Tennessee avoid foreclosure, even save their homes from public auction.

We will offer to buy your home for cash just as it is, in ANY condition, often at a PROFIT for you. We can close fast because we pay you in cash!

That means you could receive CASH for your home without making any repairs. No out of pocket costs. No stress over unexpected expenses. And, we won’t rush you to move out. You can stay in your home until you’re ready to go!

If you are facing foreclosure in Tennessee, there is no reason to feel powerless. Take matters into your own hands!

Call Entrust Homebuyers today at 615-338-5578. We can help you resolve your foreclosure issues quickly so that you can move on with your life.

Want to see how much we will pay you in cash for your house? Click here to get a Fair Cash Offer within 24 hours.

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