Posted on: 23rd Jul, 2009 01:01 pm
I have 2 home loans for my condo and would like to sell for less than it is worth can i get a new loan for balance left over?
You can't get a loan on something you don't own... if you sell you don't own it anymore. What happens is if you are selling for less than you owe Ie. "short sell"... the bank will agree to forgive or take payments on the short amount.
It would not be a short sale,since i can afford loan but want to get out. So then would i be able to just get a regular loan for left over amount?
