Pending Sale

December 1st, 2009 by Questions

My house is for sale but I`m not sure I can wait for a buyer. I have other debt besides my mortgage. Can I just give back the house to the bank without impacting my other debts as they are with the same lender (visa/line of credit).

Posted from: New Brunswick


One Response to “Pending Sale”

, A licensed trustee said:

That’s up to the bank, but if you do decide to “give the house back” be prepared for the bank to sell it for less than you might have accepted and you will be held responsible to pay them whatever amounts are still owing after the sale.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)