Tennessee Foreclosure LawFacts: Judicial Foreclosure Available: Yes Non-Judicial Foreclosure Available: Yes
Primary Security Instruments: Deed of Trust or Mortgage Timeline: Approximately 60 Days Right of Redemption: Yes Deficiency Judgments Allowed: Yes Quick Summary: In Tennessee, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure process.
The foreclosure timeline in Tennessee is approximately 60 days from the time you miss your first payment until a Notice of Default or Notice of Sale is issued to your actual foreclosure date and sale.
Tennessee borrowers have the right of redemption and are allowed deficiency judgments. New Information on Tennessee Foreclosure Laws and regulations: relative to the licensing and regulation of mortgage lenders, mortgage loan brokers, mortgage loan servicers and mortgage loan originators.To view TN SB 2279 click here For more information on Tennessee Foreclosure laws and regulations visit http://www.ncsl.org/public/leglinks.cfm and click on your state. Or Contact: Tennessee's Attorney General's Office
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