How can I get out of a mortgage if I can't sell the house for enough to cover the full amount of the loan? Please help us. We are desperate!:confused:

How can I get out of a mortgage if I can't sell the house for enough to cover the full amount of the loan? Please help us. We are desperate!:confused:
You contact your current mortgage company and tell them you need to make a short sale. A short sale allows you to sell the home for less than what you owe on it and the company accepts it for fear of foreclosure. It does not adversely affect your credit. I have been in the business for 10 years, I am positive you can do this. Good luck.

Or it is possible your mortgage company will allow you to hold the balance on a personal loan to pay off. Also work with your realitor and see if there are things you may be able to do to get more money, change paint colors, paint, some landscaping can often increase property value greatly.