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can i get a new loan for amount left over from selling condo for less than it is worth

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green949 Joined: 23 Jul 2009 Posts: 3 1.98 Dollars($)	Posted: Thu Jul 23, 2009 1:01 pm    Post subject: can i get a new loan for amount left over from selling condo Like 0 Dislike 0 I have 2 home loans for my condo and would like to sell for less than it is worth can i get a new loan for balance left over?
livinginnky Moderator Joined: 08 Sep 2007 Posts: 631 29.96 Dollars($)	Posted: Thu Jul 23, 2009 1:03 pm    Post subject: Like 0 Dislike 0 You can't get a loan on something you don't own... if you sell you don't own it anymore. What happens is if you are selling for less than you owe Ie. "short sell"... the bank will agree to forgive or take payments on the short amount. _________________ Eric Matthews Mortgage Refinance and Home Loan Guide
green949 Joined: 23 Jul 2009 Posts: 3 1.98 Dollars($)	Posted: Thu Jul 23, 2009 1:34 pm    Post subject: Mortgage help Like 0 Dislike 0 It would not be a short sale,since i can afford loan but want to get out. So then would i be able to just get a regular loan for left over amount?

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