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You need to find out the following first 1) is your loan recourse or non-recourse? 2) look up your state laws on forclosure. Does your state alow lender to sue for deficiency? Well if you are in foreclosure you should let your bank know that you are selling your home for less than you owe on the mortgage and see if they will except "A Short Pay or Short Sale" whereby they will except the lesser amount and forgive the remainder of the debt. However if they do not agree to except, there will be a Deficiency in the amount owed and you will be liable for. Check your Mortgage and or Note depending on what state your in for the "Deficiency Clause" and it will explain in further detail. Hope that helped Andy Brignoni
President First American Mortgage Services, Inc. abrig.com
What else can I help you with?
Can you sell your house while in foreclosure?
You can sell your house while it is in foreclosure. If the price is less than you owe the bank, the bank has to agree to the selling price first.
What happens if your repossessed house is sold for less than what is owed?
You owe the difference I think.
What happens to your mortgage if your house sells for less than the mortgage amount due?
If this is a legal "Short Sale" that was approved by the investor holding your note, you should be ok. If you are trying to sell the home for less that the balance of your current mortgage, you may run into some serious problems. Law vary from state to state.
What happens if your repossession house is sold for more than you owe?
If your house is repossessed and is sold for more than you owe, you are supposed to get the extra, less the costs of the sale and perhaps also costs that the back incurred.
Can you transfer your home mortgage to your mother and get it out of your name?
Not without the consent of your lender, no. You could sell your house to her, but then your mortgage company would expect to be paid off; you can't sell her your house for less than you owe on it without making up the difference yourself.
Can you sell your house while in foreclosure?
You can sell your house while it is in foreclosure. If the price is less than you owe the bank, the bank has to agree to the selling price first.
What happens if your repossessed house is sold for less than what is owed?
You owe the difference I think.
How does one sell his or her home on which the IRS has placed a lien?
To sell your home, you put a FOR SALE sign out front. If the value of the lien is less than what you will get out of the house, then when you sell the house and pay off the lien, you get the rest of the money. If the lien is for more than the house is worth and you are ready to move elsewhere, you hand the keys to the IRS and say. "Here, have fun. It is all yours." At that point you owe more on the house than the house is worth.
What if you owe more on your house than what its worth and you need to sell in this horrible market.?
You probably won't be able to sell it unless the mortagee agrees to release its lien for less than full payment.
What happens if your repossession house is sold for more than you owe?
If your house is repossessed and is sold for more than you owe, you are supposed to get the extra, less the costs of the sale and perhaps also costs that the back incurred.
What happens to your mortgage if your house sells for less than the mortgage amount due?
If this is a legal "Short Sale" that was approved by the investor holding your note, you should be ok. If you are trying to sell the home for less that the balance of your current mortgage, you may run into some serious problems. Law vary from state to state.
Can you transfer your home mortgage to your mother and get it out of your name?
Not without the consent of your lender, no. You could sell your house to her, but then your mortgage company would expect to be paid off; you can't sell her your house for less than you owe on it without making up the difference yourself.
What happens with less than 46?
45
House morage more than lenders sales house owner wants to sale house less than whats price morage is she owes 393k that's loans against the house but wants to sell for 175k?
Well the question is can pigs fly. Well i just say YOOOOUUUURRRR MMMMUUUUUMMM
Why hallmark price is sell less than 2?
$1.99
Is it unlawful to sell a house greater than it true value?
No.
How much does it cost to sell a house?
Costs for selling your house can be considerable, depending on the value and condition of your home. Real estate commissions and repair costs can eat into your profit, leaving you with less money than you had anticipated. Developing a solid plan to sell your home and understanding the financial ramifications are important if you want to realize the most profit for your house. There are several things that you should consider before you decide to sell your house.
