How to Sell a House When It's Worth Less Than the Mortgage

Smart Options for Homeowners Who Owe More on Their Mortgage Than Their Property Is Worth

The crash in housing prices and other economic forces have left millions of property owners "underwater"--owing more on their mortgage than their property is worth. If you're one of them, trapped in a home you can't sell and pressured by mortgage payments, the situation can feel hopeless.

But you do have options. And giving up is not one of them. Whether you're a homeowner or an investor, there are ways to get out of this mess before it bankrupts you. The first step is to arm yourself with full knowledge of all the alternatives available to you. You may be able to renegotiate loan terms with your bank, or short sell your home, or even rent the property out--just don't wait until it's too late.

How to Sell a House When It's Worth Less Than the Mortgage explains all of your options, helps you pick the best one for your situation, and shows you how to get it done step by step. Inside, you'll discover the ins and outs of:

• Estimating the real market value of your home
• Understanding mortgage forgiveness and debt relief legislation
• Putting together a short sale package to convince your lender to write down your mortgage
• Finding a buyer yourself or using an agent
• Negotiating new loan terms with the bank
• Tapping into government aid programs
• Surviving bankruptcy or foreclosure as a last resort