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    cnalexander's Avatar
    cnalexander Posts: 1, Reputation: 1
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    #1

    Oct 25, 2011, 11:56 AM
    Selling Your House for a Loss
    What options are available if you had to take a loss when selling your house? What kind of loans can you get to pay the difference? Are there tax breaks?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Oct 25, 2011, 02:46 PM
    If you have enough good credit, you may get a personal loan, but besides that, there is no loan to pay the difference,

    If you can not just pay the difference, you can ask the bank to do a short sale, or basically forget the balance of the debt, Some banks will, others will not, it can take many months to get a decission from the bank
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