I want to sell my house, but it seems that in order to do so I may need to lower the price to less than what I owe.
Is it possible to make an upside down sale like this and still make payments on the remaining balance?
Everything I look up is about a short sale which is for people in a hardship and the banks accept less money. This is not what I am looking for as I am employed with a decent salary and not in hardship. However I do not have enough cash on hand to pay the remaining balance of an upside down sale (depending on how upside down it is) in one lump sum.
I just want out of my house. Does this mean I am stuck?
Technically I can lower the price to exactly what I owe but then I wouldn't have enough to cover closing, commission, etc. I would also not like to empty my entire savings and have no room for emergencies.
What are my options?