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Upside Down on Mortgage
  Can a home owner sale their home for less than owed on their mortgage?
 
  They can sell the house for any price that someone is willing to pay.  But the buyer will want that mortgage paid off, and so will the lending institution.  So it's going to take some extra cash to clear the extradebt off before anyone will buy it.
    Edith
Originally published on December 12, 2007
 
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