Planning on selling a home this spring? It’s time to get ready. While mortgage. few months, there are some more specific things experts say sellers need to know: Low housing inventory is driving.
Escaping this uncomfortable position is tricky-and it often requires selling the home for less than the value of the loan – but there are solutions. Let’s look at some options for homeowners.
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John Costa, Mortgage Choice broker from North Melbourne, says that if you sell your home for less than the balance owing on your mortgage, "the bank will take a number of steps prior to allowing.
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Selling your home for less than the outstanding balance on your mortgage can be done without the cooperation of your lender only if you pay the difference back to the lender. A short payoff and a short sale are other alternatives for underwater mortgages, but both require working with the lender to conclude the.
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