How to Sell Your Home for Less Than You Owe

If you are like one of the millions of homeowners in America that are struggling to make your mortgage payments, you might ask yourself how you can sell your home for less than you owe.

Likewise, are you one of the millions of homeowners currently making their mortgage payments, and may have a reason in the near future that will prevent you from continuing to remain current? You might wonder how you can sell your home for less than you owe before becoming delinquent on your mortgage payments and damaging your credit.

The first option is to bring a check to closing that will pay the difference between the sales price and the outstanding mortgage liens. However, most struggling homeowners are not in a position to pay tens of thousands of dollars (sometimes more) at closing. Thus your options may be limited.

A second, more viable option to selling your house for less than you owe is called a short sale. It may also help you to avoid foreclosure and/or avoid bankruptcy.

A real estate short sale is defined as a transaction where a homeowner’s mortgage lender agrees to accept less than the total amount owed. The reasons why a lender will accept a reduced payment vary and our proven step-by-step short sale process gives you the best viable chance of completing such a transaction. Please read our related articles to learn more about the short sale process.

In the mean time, consider the chances of selling your house if you could advertise it at up to a 40% or more discount. Would such a discount help you market and quickly sell your house? In most cases, the answer is yes.