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Selling a house without a realtor in America can help you save a lot of money. But have you ever imagined selling a house that is metaphorically underwater? Most property sellers end up having positive equity in their houses. Around 8.2% of homeowners have negative equity. This means that they owe more than the worth of their home. It is also known as underwater.

Home sellers in America often end up being underwater by taking out another mortgage to cover debts and other expenses. This means that they will have two mortgages to pay off when it is time to sell their house. It is not possible to sell a house if you are underwater. You can face a lot of setbacks. However, you can consider the following options.

Delay selling your house

If you are in a situation where you can stay in the house and pay off your mortgage until the market is favourable, you can delay selling your house. You could also rent out the house until you are in a position of selling a home without a realtor when you regain equity.

Pay out of pocket

This is not ideal but you could decide to pay the lender the difference in cash during closing. However, this is only feasible if you have cash and you cannot sell the house when the market gets better.

Consider a short sale

If you want to move and owe more than the worth of your home in America, you can consider a short sale. This is when the lender agrees to reduce what you owe on the house to help you sell it. Lenders can allow short sales if they fear you will foreclose on the house. This means that you will have to prove a hardship for a short sale to get approved so that you can consider selling a house without a realtor or hire a realtor to sell the house.