Your mortgage is deemed underwater when you owe more money on your mortgage than your home value. No landlord would like to be underwater. When trying to sell an underwater house, it can be hard, if not impossible, to make a profit.

What could you do if you owe too much than your mortgage? Although they are not all extremely pleasant, you have various possibilities.  


Even if you owe more on it than it’s worth, you might choose to keep making payments on your house. It is possible that you have an intense attachment to your home and would rather avoid being foreclosed upon. If you have concerns about your credit score because of missed payments, you might be concerned. It is better to continue making payments on the property until its value increases.

However, it should be considered carefully because it’s an option.

You can seek financial assistance when you choose to stay and pay if you have financial difficulties and can’t pay your mortgage. For example, Emergency Homeowners Loan Program(EHLP) helps you clear your interest free loans to homeowner who can’t afford to pay mortgage. As these programs often change, working with an approved housing consulting organization in your area can help you identify which program is the best for you .


Refinancing may be the method to get off your mortgage faster when you can’t afford to pay your mortgage in the coming years and can also sell your house for cash faster. This is particularly true if you are in the house for some time and have made good progress on the principle.

What if the mortgage exceeds the home value? You can still refinance.


Another alternative which can help you stay on the floor is a loan modification if the primary reason you are selling is because you can’t afford your mortgage. However, even if your monthly payment is smaller, you will probably pay more money in the long-term because the changes usually last for a long time.


A short sale is a method of selling the house below market value and having the additional benefit of not having to worry about the profit. For homeowners who have experienced foreclosure, short sales are a viable alternative. However, the lender must approve these, which is not always the case.

A short sale has a lasting impact on your future finances, so be sure to understand the repercussions before proceeding. This is a list of questions that people commonly ask about this option.

l Is it possible to sell your house if you owe more than it’s worth?
Yes, you can, but it all depends on your state’s laws. In short sales, the creditor may sign the deficiency waiver, meaning that at the end of the sale, you are free and clear.

l Is it possible to sell your house for cash that you still haven’t paid off?
Yes, you can. A house needs not be put on the market in order to be sold. As a general rule, the majority of sellers can’t pay their mortgage, but if you owe too much on your mortgage than the property is worth, it is more difficult to find the money to buy it.

l If you sold your house but still owe money, what would happen?
In most circumstances, the rest of the debt is still accountable. However, you might not have to pay this reward if you have paid PMI or your lenders agreed in a short-sales to waive the default.


Services of relocation
Since we’re concerned about what’s going on with you, we can help you move to an appropriate house to support you.

Avoiding Foreclosure
Our personnel have proven records in the business and have established strong and long-term ties with major financial institutions. We are therefore able to assist you in avoiding foreclosure, because banks won’t get anything from foreclosures.

Juridical advisory
We can help you in your legal battle to ensure that you get something out of your hard-earned investment if you face losses without anything back in return.

Credit advice
We can help you improve your credit score whether your refinancing is designed to reduce your payment or whether you want to buy your next house.

Tips to Stay Float With Your Mortgage
Consider hiring a financial expert for assistance with mortgages. With our free financial consultant matching service, psgmaryland.com can help you locate the appropriate one. All you have to do is complete a few series of questions and we will interact with our best consultant in your area. Our consultants are fully vetted and free of disclosures. You speak with each advisor prior to making your final decision.

Consider buying a property and scared how much you could spend? To check how much you can afford, use our calculator.

Contact our friendly property experts at psgmaryland.com if you are interested in sell your house for cash, or if you simply want to part ways with a property as you can’t afford your mortgage. We make the buying and selling of property easy with professional service, quickness, and no hassle. Funds are released in as little as seven days after offering a firm bid.