The Real Estate Encyclopedia
What if I owe more on my home than it's worth?
Category - Home Selling Questions - General Home Selling FAQ's
You can try asking for an inflated price but this is definitely not the best idea as a buyer will not pay more than market value. In most cases you may have to bring the difference to closing. Sometimes, depending on your credit and purchasing power, a lending institution may let you carry the balance to the new mortgage. Another option may be to wait to sell your home until the market catches up to what you owe.


External Links
Home Selling Questions - Selling Legal & Closing FAQ's
Home Selling Questions - General Home Selling FAQ's
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