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...

What happens if I sell my house for less than I paid?

Though real estate often is sold at a gain, situations arise when an owner must sell a home for less than he paid for it. If you cannot afford your home and have negative equity, the only option ma... 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 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 Restructure a Mortgage for Less Than Its Worth?

It is discouraging when you owe more than a property's value. Job loss and other serious financial difficulties leave many people struggling to pay their mortgage payments. However, there are optio... Read More »