Pam’s Real Estate Watch 904 Sunset Drive Ste 1, Johnson City, TN 37604 (423) 282-0432
Each Office Independently Owned and Operated
Foreclosures are on the rise!! But not to worry! Prices are leveling themselves out from the rapidly growing increase
10 Minutes from Bristol Motor Speedway 605 Weaver Branch Road, Bluff City, MLS#287398, $79,900
10 Minutes from Bristol Motor Speedway, 595 Weaver Branch Road, Bluff City, MLS#287400, $79,900
we experienced in the early 2000’s. Yes it is difficult to understand how this is good; but if this didn’t happen when it did; we could have been in a greater hurt down the road. It was an obvious that was going to happen!! However; most people were just so eager to “own a home”; that they would do anything to do so. Banks started allowing 80/20 Loans; Adjustable Rate Mortgages;
and Stated Income Mortgages; these were loans available before; but to a very restricted amount of buyers. Banks used to be pretty restricted; and then all of a sudden; loans became readily available to just about anyone!! This also opened up the opportunity for Loan and bank fraud opportunities. How do you stay away from foreclosure? 1) Make your payments on time. Never pay your loan payment past 30 days. The
15 Minutes from Bristol Motor Speedway, Rich Valley Road, Bristol, VA. MLS#287406 $90,000
lenders start seriously looking at your loan to start foreclosure if you become 60 days late; and at 90 days late; it is too late. You are there for sure. They don’t want to foreclose on you!! They have too much cost involved and will cost them more to foreclose on you than you think. 2) When getting a loan; put money down. If you can; at least 20%. This keeps you from having a PMI added to your payment; which is a Mortgage Insurance to help protect the
5 Minutes from Bristol Motor Speedway, Lot 41, Glen Haven, Bluff City. MLS#288087, $44,900.
5 Minutes from Bristol Motor Speedway, 4216 Lakefront Lane, Bristol, TN. MLS#293571 $34,900
Pam Rhymer bank in case of a foreclosure. 3)When getting a loan; don’t get any loan that isn’t an FHA, VA, or Conventional type “Fixed” Loan….NO “Variable Rate Loans” …80/20 loans; Adjustable Rate Mortgages, Stated Income Loans. Never speculate that your income will increase down the road; buy your homing looking into the “What can I do now” attitude; as we never know what the future holds; as we all have seen from the last 3 years of home prices falling. LOOKING FOR A PLACE TO STAY DURING THE BMS RACES? LET ME KNOW!! I HAVE OWNERS WILLING TO LEASE THEIR HOMES TO YOU!!
Happy Valley Credit Union “Not for Profit, Not for Charity, But for Service”
Location: East C Street, Elizabethton, TN 37643 Phone: (423) 542-6078 Fax: (423) 542-3691
Take Advantage of Tennessee’s TAX FREE weekend with our back to school low interest loan of only 6% for up to one year! Get those necessary items for your kids returning to school including: * School Supplies * Back packs * Clothes * Computer/electronic items * Accessories
Let us take the worry out of your school shopping during the tax free weekend that starts August 6th through August 9th!
Celebrating 77 years of service to our members in Carter County. Car loans start at only 3.90% financing! (Credit restrictions apply). All deposits are Federally Insured up to $250,000 by NCUA.
Come See our friendly staff. At Happy Valley Credit Union, We’re Just Like Family and we are here for you!
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