Paris-Henry County, Tennessee. You might think we are big â Kentucky Lake, the largest manmade lake in the Southeast, a big catfish on a pole, the Worldâs Biggest Fish Fry, big smiles, big hearts that volunteer to help one another and raise over $200,000 a year for local charities selling homemade pies and casseroles.
DEFINITION of 'Pre-Foreclosure' Pre-foreclosure refers to the state of a property that is in the early stages of being repossessed due to the property owner's inability to pay an outstanding mortgage obligation.
Letâs take a look at each one. 1  Pre-foreclosure â This is a generic term for a home where the owner has fallen behind on mortgage payments. The home may or may not be in the formal foreclosure process. 2  Short Sale â A short sale is a home being sold for less than the balance on the underlying mortgage.