Selling your mortgage with your house

You never slept last night…the mortgage payments were haunting you…you really do not feel you can actually handle this. You seem to be in a very tight corner with the mortgage costs including tax and insurance being around 50% of your take home salary. You feel they are crushing you down and want to be relieved. If this is your story then probably selling your mortgage with your house is the best possible option. Say you decide to sell your house and use the proceeds to pay up your mortgage but what if the amount is less than what you owe. Would you be able to manage the balance? In many cases you may not…so try a short sale.

In a short sale your mortgage lender would need to cooperate by accepting to receive the buyer's full proceeds as full payment for your mortgage even if the amount is lesser than the actual due amount. You may think this impossible but in reality you are relieving the mortgage lender from the problem of a non-performing mortgage loan and obviously he does not want your house back. This being the case you can even negotiate terms and get it in writing that they will not sue you for further money or give a bad report to credit agencies.

If they get your house back they lose thousands of dollars so if you really in debt and do not know where to turn; think of this option!

Thanks to San Diego Real Estate & DUI Lawyers Online