Real Estate Pro Articles

Foreclosure listings in Tennessee A profitable investment option

[Valid RSS feed]  Category Rss Feed -
By : John Smith    99 or more times read
Foreclosure listings in Tennessee include properties foreclosed by banks and government. Though judicial foreclosure is witnessed, power of sale is the most popular foreclosure pattern in this state. In this foreclosure process, the lenders auction the property of the borrower without judicial intervention. It does not mean that this process is illegal and monopoly of the lender. Rather stringent measures are taken to ensure transparency of the whole process. In this article we will discuss about power of sale foreclosure and how you can buy these properties in a hassle free manner.

As Tennessee is a title theory state, home equity loans come with power of sale clause. This clause makes the lender an equal lien holder of the pledged property till the loan amount is paid with interest. The clause is mutually agreed by both parties and the sell deed of the property remains under society during the repayment tenure. The problem arises while the borrower starts defaulting in repayment of the loan amount. Loans are not for charity and the lender expects the borrower to respect the mortgage deed. When there is gross default on the part of the borrower, foreclosure is the only path left for the lender to get back his money. However, before initiating foreclosure, the lender gives 20 days time to the borrower to repay the borrowed amount with interest. Any failure will lead to foreclosure and sale of the property through auction.

The number of foreclosures in Tennessee is increasing at an alarming rate. Global economic recession, squeezed credit scenario and unstable job market are creating havocs for homeowners who have taken home equity loans. However, this has created a win-win situation for prospective home buyers and real estate investors. According to estimates, foreclosed properties in Tennessee cost up to 36% lower compared to fresh properties. However, while buying these properties expert foreclosure assistance is imperative for a safer deal.

You can find foreclosure assistance from real estate websites. They provide valuable information related to foreclosed properties without any cost. They offer the latest foreclosure listings in Tennessee. In case of government foreclosures, advertisements do not appear in the local newspapers. You can find information related to government foreclosure from real estate websites. By providing list of properties according to their price, location and category, these websites make your decision making process easier.
Original Post:
Foreclosure listings in Tennessee A profitable investment option

Related Articles

Print This Article
Add To Favorites




© All rights reserved to Real Estate Pro Articles