4 Things to do if You Are Upside-Down on Your Mortgage in TN

Whether you overpaid for the property in a bidding war, you’ve fallen behind on mortgage payments, or property values have dipped, being upside-down on your mortgage or owing more than the current market value is a less-than-ideal situation for homeowners. If circumstances force you to sell your house instead of waiting out a market turnaround for values to rise, you may feel backed into a corner. You may not know what options you have to sell without coming out of pocket thousands of dollars.

Foundation House Buyers has solutions that will allow you to be fully informed and weigh the benefits of each will help you feel confident in the action you take. So read on as we explore four things you can do if you are upside-down on your mortgage in TN.


The first thing you can do if you are upside-down on your mortgage in TN is to get a realistic picture of where you stand. Then, contact your lender for the amount owing on the mortgage and schedule a professional appraiser so that you’ll work with exact numbers.

Professional buyers like those at Foundation House Buyers want you to make an educated decision about your future, so they’ll compare what you could earn from listing vs. our offer to buy your house directly as-is. At Foundation House Buyers, our we provide all the details used to calculate our offer because we want you to feel good about working with us long after closing.

Short Sale

Naturally, you want to try every option if you are upside-down on your mortgage in TN; while a short sale has some consequences, they don’t compare to the fallout from claiming bankruptcy or a foreclosure on your credit record. A direct sale to Foundation House Buyers makes it easy to solve your home selling troubles in TN.

Pay the Difference

Another thing you can do if you’re upside-down on your mortgage in TN is to sell the property and bring the amount owing to the closing table to pay off the remainder of the mortgage. When selling directly to Foundation House Buyers, you’ll get a fair value and won’t pay any hefty real estate commissions. At Foundation House Buyers, there are no hidden fees, you won’t pay any closing costs, and we can provide you with a fast, guaranteed closing day.

Subject To

Without a doubt, this is our most exercised option. Subject to is often misunderstood but can be a invaluable tool for homeowners who are upside down and need to sell. Selling your home subject to means selling it with the existing loan in place. The first thing we hear people say is, “I don’t want it to stay in my name” – would you rather bring thousands of dollars to the closing table? Are you prepared to continue making payments without risk of default? Subject to sales are not for everyone, but they are a great option for those who truly need to sell and can’t afford the high costs to do so. Subject to sales are always facilitated through a loan servicing company so you get confirmation each month when your loan is paid by the buyer. When Foundation House Buyers buys subject to, we will also pay your agent commissions if you’ve hired one. We will still pay all closing costs, we will pay off any arrears you may have and sometimes we’re able to put a little cash in your pocket too. Want to know the best part about a subject to sale? We help rebuild your credit by continuing to pay your mortgage timely.

At Foundation House Buyers, we strive to be the best option if you are upside-down on your mortgage in TN and need to sell. At Foundation House Buyers, our professional buyers stop everything and listen to sellers to help find the best resolution for your situation. Feel free to ask us any questions or express any concerns you may have about the process of a direct sale of your TN house. We approach each customer with unique and individualized solutions, one seller, one property at a time. Our offers are always no-obligation and 100% free. Call Foundation House Buyers at (615) 669-3444.

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