PathAfterEspañol

Property, Vehicles, and Utilities

What if the house is underwater — worth less than the mortgage?

Short answer

The estate is responsible for the mortgage, not you personally — unless you co-signed. Options: sell the home in a short sale (lender agrees to accept less than owed), let it go to foreclosure, or negotiate with the lender. Consult a real…

What this usually means

The estate is responsible for the mortgage, not you personally — unless you co-signed. Options: sell the home in a short sale (lender agrees to accept less than owed), let it go to foreclosure, or negotiate with the lender. Consult a real estate attorney before deciding.

What to do next

Related questions