My friend Mr. Cooper at Dyersburg Realty just listed a 4 bedroom 2 bath foreclosure located at 1500 Red Bell Road in Newbern,Tn 38059.

This foreclosure belonged to an acquaintance of mine who left a job for another job and got laid off. He had a conforming loan on this house and these are what we are seeing being foreclosed on now. I believe the non comforming B-paper foreclosures have run their course and now just the "A" paper is defaulting.

The last owner paid $159,000 for this house in October of 2002. The county has it valued at $148,900. Before losing this house the owner had it listed for $184,900 and reduced it to $179,900. He was overpriced to start with and just rode the recession down until he bailed.

I showed this house last year and made the comment that it was a nice house that was overpriced. The heated and cooled square footage is 2267' and it sits on 2.1 acres.

This house is in a good location and should sell within the next 60 days. If you would like more information or would like to view this house just call Mike Frazier at 800-896-8016.