Underwater or Low Equity Mortgage

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For any of a number of reasons, you may need to sell your home. But sadly, you have little or no equity in the property. What this means is that you will need to come to the closing with a check to pay the shortfall. If you don’t have the cash on hand to do this, you can’t afford to sell the property. But you still need to sell your home. Some people have simply walked away from their homes, defaulting on the mortgage. We don’t see this as a particularly good idea, because while you can walk away from your property, you cannot walk away from your debts. The bank will sell the property, and if there is a shortfall, they can come after you for it. Please don’t put yourself in this position.

Rather, fill out the box to the right, and we will send you some ideas on better ways to handle your problems.

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