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maryrita_kizior · Joined: 01 Jun 2009 Posts: 1 1.00 Dollars($)

I have an old home that I would like to sell--to a rehabber--in the near future, but I have a home equity loan that I am still paying on. I was told when I applied that I would be able to sell it, but I don't understand how that works.
How does this transactiion work with the bank holding the lien in order to be able to sell my home? How does it work exactly since I am new to these types of situations?

Niicss · Posted: Mon Jun 01, 2009 1:41 am Post subject:

Hi maryrita_kizior

Though the bank is holding a lien on the property, you can still sell it off. While you sell off the property, the buyer will have to assume the loan or refinance it in his name.

Thanks.

Guest

Thanks. I was really concerned about it because I am going to need to sell my house within a year.

Niicss · Posted: Wed Jun 03, 2009 2:08 am Post subject:

You are most welcome, Mary. Smile

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Can you sell a home with a HE lien