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A Short Sale is a situation where a Seller (1) owes more money on the loan/mortgage (and any other liens on a property) than the sale of the property will likely produce at closing and (2) is unable or unwilling to bring money to the closing to compensate for any shortfall(s) with the lender(s)...
A Foreclosure is defined as a legal process by which a defaulted borrower/homeowner is deprived of his or her interst in a property, usually for non-payment of the mortgage. When refinancing, a loan modification, or a short sales does not work, a distressed home owner is left with one option: Foreclosure...
We will be glad to provide you with a List of Short Sale / Foreclosure / REO (Bank Owned) Properties for any Middle Tennessee Area upon Request...JUST ASK!