If someone is paying on a mortgage loan, can they sell their home to get out of their mortgage loan?
2007-06-23 13:26:59 · 4 answers · asked by shybutnaughty 1 in Business & Finance ➔ Renting & Real Estate
Yes, you can sell your house anytime.
2007-06-23 13:59:23 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Yes, but they have to sell the house for more than they owe or pay the difference. If you sell it for less than you owe, which is happening in a lot of markets these days, you have to be able to pay the entire difference right away. Once the house is sold, the mortgage company will not accept payments until the difference is paid. They will not allow it to close if you can't pay.
2007-06-23 20:31:30 · answer #2 · answered by Brian G 6 · 0⤊ 0⤋
well yes indeed. If you sold your home you would want to make sure the mortgage was payed off or you couldn;t sell it. I am actaully selling mine now becuase we can;t do our mortgage, we want something smaller and less expencive. if you think you can't afford a realtor then try places like assist -2 -sell or help-u-sell that have a flat fee that come out of your funds when your house is payed off. oryou can do a for sale by owner
2007-06-23 21:54:00 · answer #3 · answered by Eden 3 · 0⤊ 0⤋
If you can't pay the mortgage, are relocating or lost your job, you can sell your home for any reason.
Call a few Realtors in your area to select one to help you sell your home. Their commissions vary depending on region of the country and local economy. I don't know where you are or if you have much equity.
2007-06-23 20:30:39 · answer #4 · answered by Ginger 6 · 0⤊ 0⤋