Can I sell my home if I still have a mortgage?
By Bob Millaway, South Jersey Community Expert & REALTOR®
Yes, selling a home with an existing mortgage is common. The sale proceeds pay off your remaining mortgage balance first, and you keep the remaining equity. If you owe more than the home is worth (an underwater mortgage), you may need a short sale or to bring cash to closing. Your agent and lender can explain your options based on your specific situation.
Why It Matters
Most sellers have a mortgage. Understanding how the payoff works helps you estimate your net proceeds and plan accordingly.
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