Here is a summary of foreclosure laws and rules for the State of Tennessee:
- In Tennessee foreclosure law requires lenders to use a deed of trust and foreclose by trustee sale.
- Most trust deeds do no provide for the right to redeem.
- If there is not a right of redemption, the borrower gets a full two years to redeem the property.
- The lender can seek a deficiency judgment in Tennessee.
Much more information is available throughout this website, but for definitive advice ask a Tennessee lawyer.
If you are interested in reading the actual statutes relevant to mortgage and foreclosure in Tennessee those laws are available online.
Learn more about what the above procedures and rules mean. Review the homeowner foreclosure guide on this website.