My question is, if they make me an offer that is less than what I owe to the mortgage company, what happens to the remainder of the money? I thought perhaps they would refinance the remainder, but at that point I’d have nothing as collateral. Does anyone know? I am looking at trying to sell my home because my husband lost his job three months ago. With no prospects in the horizon, and only one income I am able to handle the other bills, but not able to pay the mortgage at the same time. I never thought I would find myself in this position so, I’m just looking at all options to figure out which one will cause the least damage to our credit.

Passive Income