Home Selling in 64154>Question Details

Bugbears1, Home Seller in 64154

what happens if i sell my house but dont get enough to pay off my home equity loan?

Asked by Bugbears1, 64154 Wed Jan 5, 2011

Help the community by answering this question:


That is a short sale situation.
1 vote Thank Flag Link Tue Jun 7, 2011
Hi, I'm a very experienced Realtor in your area. My office is near 152 and N Oak. Please feel free to give me a call and we can discuss your specific situation and the possible solutions. Elaine Heckenkamp, Reece and Nichols, KC North, 816-805-4393
0 votes Thank Flag Link Fri Apr 1, 2011
You can do a short sale. We can negotiate for you to get your lender to accept less than they are owed. Please call us directly to discuss your specific situation. Our services are FREE to homeowners. We look forward to hearing from you.

Eli Givoni, Director
Short Sale Department, LLC
Serving all 50 states
0 votes Thank Flag Link Sat Jan 8, 2011
Unfortunately, it may mean you having to bring money to closing. If you can't do that, you'll want to look at possibly doing a short sale. Because you won't be able to sell the house if there is still money owed. Talk to your lender about what your possible options are. Good luck.

Noah Seidenberg
0 votes Thank Flag Link Wed Jan 5, 2011
Hi Bugbears1;
You won't be able to convey title to anyone with amounts due (mortgages/taxes/liens, etc.) on the property. If this is the case and there is a hardship, you can see if your bank will allow you to short-sale the home. There are other options (such as loan modifications) that you can discuss with your lender.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Wed Jan 5, 2011
What is your agent advising....do you have the money to pay off the home equity loan...if not, is a short sale an option...if you don't have an agent, consult with an attorney who specializes in real estate--he/she can best advise as it relates to your specific situation...
0 votes Thank Flag Link Wed Jan 5, 2011
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