Steve Jolly - The REO Expert for Greater Nashville

The pace of prime borrowers going into foreclosure is accelerating, especially in states with mounting unemployment or property values that saw a big run-up during the housing boom.It's a marked shift from earlier this year, when foreclosures were driven by defaults on subprime loans. And it has major implications — ravaging the credit ...

Tennessee's unemployment rate jumped to 9.9% in April, setting a 25 year high.  It is up 0.3% in a month and 3.9% in one year.  We are higher than the national average of 8.9%, mainly due to job losses in manufacturing and distribution.  Tennessee's manufacturers are down more than 40,000 since April ...