Author Archives: Kendra Chui

Do you owe more on your mortgage than your house is worth? You could ask your bank about offering short sale your house . Current California legislation makes clear that once the bank agrees to a short sale, it must accept the sale price as full payment of the mortgage. For instance, if the bank approves the sale, then if you owe $300,000 but sell your house for $200,000, the bank must forgive the outstanding balance of $100,000. Continue reading →