If I sell my house for K less than it’s worth right now – what happens to the amount I still owe?
This entry was posted on Monday, August 2nd, 2010 at 9:18 am and is filed under Sell My House. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
August 2nd, 2010 at 9:18 am
You have to pay the full amount of what you owe on the house.
August 2nd, 2010 at 9:18 am
You can’t do this! In order for your new owner to get a clear title (and ownership of the home) you must pay off your mortgage balance in full. The bank/mortgage company has a lien on your home until you fulfill your obligation to them- you can’t sell what you don’t own.
August 2nd, 2010 at 9:18 am
What happens is you have to pay the amount you still owe. It’s due at closing.