What happens to the difference if I sell my house for a loss?

If I sell my house for K less than it’s worth right now – what happens to the amount I still owe?

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3 Responses to “What happens to the difference if I sell my house for a loss?”

  1. PIE R SQUARED Says:

    You have to pay the full amount of what you owe on the house.

  2. Beverly S Says:

    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.

  3. 65% water Says:

    What happens is you have to pay the amount you still owe. It’s due at closing.

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