Can You Sell Your House in Modesto If You Still Owe Mortgage?

If your mortgage is suddenly overwhelming, you might want to just sell your home in Modesto. But can you, if the home isn’t paid off? It turns out that the answer is yes, and it’s easier than you think!

Working With Your Lender

It’s actually incredibly common to sell a home with a mortgage still attached. In fact, it’s the most common way! You just have to ensure that you make enough money on the sale to pay off your mortgage, and then you’re free to move on to your new home. You need to contact your lender to ensure that you’ve got enough profit in your home to pay off the mortgage, and that you have the equity to pay off your closing costs. If selling your house in Modesto isn’t going to pay off your mortgage, talk to your lender about other solutions you might be able to find.

Selling With A Mortgage

Selling a home with a mortgage is just like selling any other house. In addition to paying off your home, you need to ensure that all liens against your home are paid, and you need to ensure that you’ve got the money to pay for closing costs, like a real estate commission or a new title policy. Once those and your mortgage are paid off, you’re free to keep the profit.

Short Selling Your Home

If the market is rapidly pitching downwards and your house isn’t worth enough to pay off your mortgage, talk to your lender about a short sale. In a short sale- which has to be decided on by both the seller and the lender- a house is sold for less than owed. Since the lender won’t get all of their money back on the loan, this can hurt your credit in huge ways, and short sales are typically a last resort method to get rid of a home.

Selling A Home Fast, With Mortgage

Of course, if you need to sell your home fast, it’s a breeze to work with a great cash-for-homes buyer like Rapido House Buyers. We know all the ins and outs of real estate, and ensure you get the money you need to pay off your mortgage. It’s simple to sell your home fast with Rapido House Buyers, and easy, too! Get rid of your mortgage and get on to a new world– call us today.