Did you pay too much for your home?

Everyone has heard of the millions of homes that have been foreclosed recently...but has anyone told you about the millions of people who have contacted a Realtor® to help them out of their situation?

If you paid too much for your home and you need to move, don't wait any longer to call a Realtor®! You HAVE options! And most of the time they can help you without accepting payment from you! What are the options? Well, each situation is different and each bank that we deal with is different, but here are a few that we have ran across recently...

1. SHORT SALE - This is when the bank agrees to accept an amount lower than what you actually owe on the property. They will even pay Realtors® to help you through this process! The banks do not want to foreclose because it will cost them a whole lot more in the long run. This has credit report ramifications, so be sure you talk with your Realtor® before you get started.

2. Negotiate with the bank to come to an agreement about purchase price in which you have a separate loan after your home is sold. For example, if you owe $200,000 on your home, and you sell it for $180,000, you would have a $20,000 note left on the property that you can pay over time.

This is just scratching the surface, so if you would like more information on the subject, please contact me at tandrews@kw.com or visit my website at YourKnoxvilleAddress.com