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Ok so no matter what I HAVE TO PAY OFF FHA! ? Right! And keep difference?! So what if im selling it for more then appraised for

Can that work? by Sherri_734_280 from Mansura, Louisiana. Jun 7th 2013 Reply


Steven Ceceri (CreativeFinancingOptionsGroup)
#37 ranked lender in Massachusetts - 723 contributions

Hi Sherri! Seems there is confusion and misunderstanding for some reason, but on any real estate transaction with liens (Mortgages, taxes, etc), all of those must be paid and the remaining funds (if any) would go to you as the seller. If you want to discuss this by phone, please send me a direct message through this site and we can talk this over. Thank you and good luck!

Jun 8th 2013
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Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

Yes it can if the buyer will pay the difference. Once the bank note is paid off you get to keep whatever is left over.

Jun 7th 2013
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Michael Kirkutis (MichaelKirkutis)
#34 ranked lender in Connecticut - 13 contributions

Yes, when you sell your house, you must pay off all the existing liens on the property and any excess equity would go to you. I am only licensed in CT. Michael A. Kirkutis, CT DOB NMLS #111599, MAK Mortgage Company, Inc., CT DOB NMLS #103552. MORTGAGE BROKER ONLY, NOT A MORTGAGE LENDER OR MORTGAGE CORRESPONDENT LENDER. www.cthomemortgageloan.com.

Jun 8th 2013
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

The existing loan gets paid off, you get to keep whatever is left over.

Jun 8th 2013
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Charlie Sparks (CharlieSparks)
#9 ranked lender in New Mexico - 397 contributions

If you are selling for more than appraised value and the buyer is getting a mortgage, they would have to pay the amount over appraised value to you out of their pocket. Yes, that difference would be yours.

Jun 7th 2013
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