Nashville Realtor for Home Buyers, Sellers or Commercial Property Leasing . . . . . TN License #290760

Too often I find sellers who have  refinanced their mortgages and have taken some cash from the transaction simultaneously.

Sometimes this can have negative results.  If cash taken turns out to be based on an inflated appraisal of value,  homeowners may find that they owe more than the house is worth. Hence the need for a short sale should they need to sell.

Refinancing can be a good thing, especially with low interest rates these days. However, homeowners should understand that the offer to get cash from the transaction serves to increase the remaining balance on your mortgage and it reduces your equity in the property. So when you go to sell you take away less cash from the closing table and there may be cases where you may even need to take cash to the closing table.

Refinancing and Home equity lines of credit sound like good things but  everything that sounds too good to be true should be examined carefully. Do you really need that cash now? Was cash the reason for refinancing? Do you want to reduce your debt?

You don’t want to eat the icing off your cake then try to sell the cake and get paid for the icing too.

Germantown Nashville was Nashville’s first subdivision. Initally, wild animals inhabited the area then Native Americans used it for hunting.

It was first surveyed by David McGavock, a land surveyor and his brother in 1796. Germantown got its name from the large number of German immigrants who lived there in the 1800s.

Today it is a historic district with much work still being done to renew and revitalize the area. The  newest project is a 242 apt complex that is being built at 5th and Madison near the Germantown Cafe.

The $32 million complex will have  a parking garage and it is just one of several projects that have contributed to the renewal of the area.

Read more about Germantown at   Historic Germantown Nashville.

Germantown is still growing.  Call  615 482 2257 for more information.

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