What Happens If You Sell Your Home for Less Than You Owe on the Mortgage?

Answer Selling a home for less than is owed on the mortgage is called a short sale. The owner must get approval to proceed with a short sale from the mortgage company. This process normally involves provi... Read More »

Top Q&A For: What Happens If You Sell Your Home for Less Tha...

Can i qualify for a mortgage before i sell my home&satisfy the existing mortgage?

On One Hand: The Hard WayIf your credit history and financial situation are good enough, you can qualify for a mortgage on a second property. This will work just as if you were buying a second home... Read More »

How to Short-Sell Your Home With a Second Mortgage?

Selling your home through a short sale, in which your mortgage lender allows you to sell your home for less than what you owe on your mortgage loan, can help you avoid foreclosure. If you're strugg... Read More »

Can I Sell My Home Back to the Mortgage Company?

Homes tend to increase in value over time, so you might think that a bank would want to purchase your property. Unfortunately, the same company that issued your mortgage probably does not want your... Read More »

What Do Mortgage Companies Charge When a Home Mortgage Is Paid Off?

Selling or refinancing a home usually involves paying off an existing mortgage. In calculating a payoff, which will satisfy and zero out the balance, all unpaid fees and interest must be included, ... Read More »