Can I Sell My Home While in Forbearance in Nashville?

Can I sell my home while in forbearance in Nashville?
Yes, you can sell your home while in forbearance in Nashville, but you’ll need to pay off the remaining loan balance and any deferred payments at closing. It's a doable process—especially with a local expert like Nik Shewmaker in your corner.

What Is Mortgage Forbearance?

Mortgage forbearance is a temporary pause or reduction in your mortgage payments, usually approved during times of financial hardship. While it provides breathing room, it doesn’t erase your mortgage debt. Once forbearance ends, you'll need to repay the paused amount—often in a lump sum, through a repayment plan, or by modifying the loan.

In Nashville, many homeowners entered forbearance during economic slowdowns, job changes, or after events like the 2020 pandemic. If you're in that situation and thinking about selling, you're not alone.

Can You Legally Sell a Home in Forbearance?

Yes. Selling during forbearance is entirely legal and often the best financial choice if you:

• Need to avoid foreclosure

• Can’t afford the reinstated payments

• Have equity in your home

You’ll just need to ensure your lender gets the full payoff amount at closing—including principal, interest, and any unpaid forbearance amount.

How the Nashville Market Plays a Role

The good news? The Nashville real estate market continues to show resilience. According to recent data from Greater Nashville Realtors®, the median sales price of residential homes remains strong, and inventory levels—though rising—are still competitive. If your home has appreciated in value over the past few years, you may be able to walk away with equity even after settling your mortgage.

Nik Shewmaker, aka “Nashville’s Nik,” has helped homeowners across Davidson, Sumner, Wilson, and Williamson counties sell under complex conditions like forbearance. She knows how to position your property, price it smartly, and negotiate timelines that help reduce stress and risk.

Steps to Selling While in Forbearance

Here’s what the process usually looks like:

1. Get a Full Payoff Quote from Your Lender

Ask your loan servicer for a current payoff statement. This will include:

• Remaining principal balance

• Accrued interest

• Deferred or paused payments

• Fees, if any

2. Determine Your Home’s Market Value

Nik will run a detailed Comparative Market Analysis (CMA) to estimate how much your home could realistically sell for in the current Nashville market. This helps you gauge if you have enough equity to cover what’s owed.

3. Evaluate Equity (or Lack of It)

If your home’s value exceeds your mortgage payoff, great—you’re in the clear. But if you’re upside down (meaning you owe more than it’s worth), you may need to consider a short sale, which has separate requirements and lender approval.

4. List and Market the Home

This is where Nik’s expertise shines. Professional photography, local marketing, open houses, and a targeted strategy designed for your unique situation all come into play.

5. Negotiate Offers and Communicate with Lender

Once you have an offer, Nik coordinates with your lender to ensure everything aligns for a smooth closing. If you’re close on equity, timing and precision matter.

6. Close and Pay Off the Loan

At closing, proceeds from the sale will pay off the full amount owed to your lender. Anything left over is yours to walk away with—or put toward your next chapter.

What If You Have Little or No Equity?

If you're short on equity, you may qualify for a short sale—but it does come with hoops to jump through, including lender approval. It can affect your credit, but usually not as severely as a foreclosure.

Nik Shewmaker can help you evaluate whether a short sale makes sense and connect you with real estate attorneys or housing counselors if needed.

Other Considerations

• Credit Score Impact: Selling in forbearance doesn’t damage your credit, but missing payments might. The sooner you act, the better.

• Tax Implications: Any forgiven debt in a short sale might be taxable. Consult a CPA.

• Legal Review: Always consider hiring a real estate attorney if you’re unsure about the fine print.

Why Work with Nik Shewmaker?

Navigating a sale while in forbearance can feel overwhelming. That’s why it’s essential to partner with someone who knows the Nashville market, the lenders, and the process inside and out.

Nik Shewmaker, Nashville’s Nik, brings:

• Over 16 years of local experience

• A deep understanding of financial hardship sales

• A client-first, faith-rooted approach

Whether you’re in Hendersonville, East Nashville, Mount Juliet, or anywhere in between—Nik will meet you with clarity, compassion, and a plan.

Final Thoughts

Selling your home while in forbearance is absolutely possible—but you’ll need strategy, local expertise, and clear communication with your lender. With the right guidance, you can avoid foreclosure, protect your credit, and move forward with confidence.

Need help navigating a sale while in forbearance? Contact Nik Shewmaker, Nashville’s Nik, for a free home evaluation and strategy session tailored to your situation.

What Is the Best Time to Sell a Home in Nashville, TN?

What is the best time to sell a home in Nashville, TN?
The best time to sell a home in Nashville, TN is typically during the spring and early summer months—April, May, and June. Homes listed during this period tend to sell faster and closer to asking price due to increased buyer demand and favorable weather conditions.

Why Timing Matters in Real Estate

When you decide to sell your home, timing isn't everything—but it's close. While a well-priced and well-presented home can sell in any season, listing your home when demand is naturally higher gives you a significant edge. In Nashville’s real estate market, timing can mean the difference between a bidding war and sitting on the market for weeks.

Nashville's Real Estate Market Cycles

Spring: Prime Selling Season (March–June)

• High buyer demand: Warmer weather brings out more serious buyers.
• Tax refunds: Many buyers use tax returns for down payments.
• Curb appeal: Landscaping blooms, homes show better.

Stat Snapshot: According to Greater Nashville Realtors® data, homes listed in April and May sell 10–15% faster and often closer to list price than those listed in fall or winter.

Summer: Still Strong (July–August)

• Families on the move: Buyers with children want to settle before the school year.
• Longer daylight: More time for showings.

Fall: Slowing but Serious (September–November)

• Motivated buyers: Fewer “lookers,” more qualified buyers.
• Less competition: Fewer homes on the market means yours may stand out.

Winter: The Quiet Season (December–February)

• Low inventory: You may face less competition.
• Relocation season: End-of-year job changes prompt serious buyer activity.

Local Insights: Nashville-Specific Selling Trends

Nashville isn’t just growing—it’s booming. But within that boom, neighborhoods behave differently. Here’s what you should know:

1. East Nashville

Buyers here trend younger and trendier. They often start shopping early spring.

2. Brentwood & Franklin

Families dominate these markets. Listings in May and June often perform best as parents plan around school schedules.

3. The Nations & Sylvan Park

Mid-spring into early summer sees strong demand from move-up buyers looking for walkability and lifestyle.

Quick Tip from Nashville’s Nik: “If you’re thinking of selling in Green Hills, consider listing by mid-April. It hits that sweet spot right before summer travel starts.”

Other Factors That Influence Your Ideal Timing

Even the best seasonal window won’t compensate for:

• Overpricing
• Poor marketing
• Neglected repairs or staging

Timing is just one piece of the puzzle. Here's what else to consider:

Market Conditions

• Low inventory? Great time to stand out.
• High interest rates? May slow down certain buyer groups.

Personal Timeline

• Relocation? Divorce? New job? Sometimes you sell when you have to.

Your Home’s Condition

• Is it move-in ready or in need of updates?

How Nik Shewmaker Helps You Choose the Right Time

Selling at the right time takes more than a calendar. It takes a plan. Here’s what I offer as your Nashville real estate expert:

• Local market expertise: I analyze hyper-local data and trends, not just general averages.
• Pre-market strategy: From prepping and staging to timing the listing, we make sure your home shines.
• Customized timing plan: Based on your goals, neighborhood, and the type of home you’re selling.

Bonus: I’ll tell you if now isn’t the best time to list—and why.

Pros and Cons of Selling in Each Season

Nik Shewmaker (NashvillesNik)

📲 Call or text (615) 585-0022

📧 Email: Nashvillesnik@gmail.com

🌐 Visit: www.NashvillesNik.com