The Nashville Business Journal reported today on the most recent real estate foreclosure analysis from Realtytrac. The report ranked all the states for their home foreclosure rate in January 2010.
Ten
nessee ranked 26th on this list. It is not a highlight of the state to be so high on this list and to know that over 3900 homes went into foreclosure in just one month (Jan 2010). However it is a far cry from the top three states Nevada, Arizona, and California.
The good news is that Tennessee had a smaller increase than the national average from Jan 2009 to Jan 2010
and the decrease from just last month in TN was almost double the national decrease for the same period.
What can you do to reduce the foreclosure rate in Tennessee? If you are having trouble with making mortgage payments, do not ignore the situation. Communication early on with the lender is crucial. There are alternatives, like a short sale, or a loan modification. If you need help finding the right person to confide in and talk to about the situation feel free to contact your local real estate professional and ask if they have experience in Short Sales, and if they can recommend professionals in the industry to assist you.
If you are in the market to buy properties, now is a great time to also assist and pick up a foreclosed property or to find an even better bargain on a short sale before the foreclosure process occurs. Our team would be glad to talk to you about foreclosures, short sales, or the market in general in Franklin TN.
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The Grumbles Team is our family serving your family with your real estate needs in Franklin, Tennessee 615-587-5843.
EXIT Realty of the South | 1227 Lakeview Dr. Suite 1 | Franklin | TN | 37067 | 615.550.5555
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