What happens to the difference if I sell my house for a loss?
Real Estate Professionals
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January 2nd, 2010 at 1:38 am
What happens is you have to pay the amount you still owe. It’s due at closing.
January 4th, 2010 at 10:40 am
You have to pay the full amount of what you owe on the house.
January 5th, 2010 at 10:17 pm
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.